Bitcoin Surges to a One-Month High
Date: 2023-09-19 Author: Dima Zakharov Categories: BLOCKCHAIN, CRYPTO PAYMENTS
Bitcoin's Impressive Rally
Today, during the European session, BTC once again jumped above $27,000. Solana (SOL), Ethereum (ETH), and Litecoin (LTC) also demonstrated growth, according to Bloomberg.
Mati Greenspan, the CEO of Quantum Economics, emphasized that the surge above $27,000 was the result of Bitcoin's prolonged consolidation in the range of $25,000 to $26,000.
A Potential Surge to $30,000
Experts predict that the cryptocurrency may rise to $30,000, and only then will traders start locking in their profits. According to Greenspan, the climb to $30,000 is possible if BTC rises to $28,000 in the coming days.
Analysts at Kaiko believe that the current rally is short-term in nature. There are currently no signals indicating that the crypto market is entering a prolonged growth phase.
Strengthening Bitcoin Amid Economic Uncertainty
The strengthening of BTC's value this week coincides with reports that the Federal Reserve in the United States may refrain from increasing interest rates.
The market capitalization has increased to $1.08 trillion following improved conditions in Asian and European stock markets.
