Market Cap: $2,217,655,568,626
24h Vol: $73,933,296,673
Cryptocurrencies: 29447
Markets: 111572
Cryptocurrencies: 29447
Markets: 111572
Market Cap: $2,217,655,568,626     
24h Vol: $73,933,296,673
Seeking Alpha 2023-02-28 06:17:27

Bitcoin: Further Upside As Recovery Continues (Technical Analysis)

Bitcoin: Further Upside As Recovery Continues (Technical Analysis)
Summary The new trading year started on a high note for Bitcoin. From its low in November, Bitcoin is currently up more than 53%. Technically, Bitcoin is consolidating the first breakout but already eyeing the next breakout above 25,000. The beaten-down crypto sector is still far from experiencing euphoria or exuberant optimism, and as a result, surprises remain to the upside. Despite a positive outlook in the short term, restrictive monetary policies by central banks as well as increasing regulation remain a big burden for a highly speculative asset like Bitcoin.
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