03-27-2023 icon

Will Bitcoin escape market downturn? Here’s something to note this week

By Lucy Adegbe

The largest cryptocurrency by market cap Bitcoin moves into the closing week of the current month in an unstable pattern as a firm weekly wrap-up still makes the $30,000 mark impossible to attain.

The digital currency had a weekly close of virtually dull performance notwithstanding some level of instability along the line as the market aims a new path. Where is it likely to approach after now?

In such a startling week based on the macro economy, the trade rate of Bitcoin constantly responded to judgments made by the US central financial body as well as related analysis.

The upcoming period is, nonetheless, that of moderate composure, and a major monthly wrap-up, which reviewers speculate could be a new beginning of a bull market.

Bitcoin has presently recorded a 20% increase in the current month, which implies that the next couple of days would give the conclusion of the stable nature of the recent comeback from multi-year down.

The coin made an impressive weekly close, getting back to its $28,000 line, as revealed by statistics from TradingView and Cointelegraph Markets Pro.

Following worries that the market may labour hard to maintain its current status, Twitter user Rekt Capital, in a Monday review, cited that if Bitcoin continues to battle hit above $28,700, then a beneficial plunge is likely to happen to usher in new buyers.