Will We See BTC Above $40K Next Week?

BTC made an incredible recovery from $34,459.22 on 24^th Feb.22 to $39,031 at the time of writing.

This incredible recovery is continuing and BTC is gaining momentum. BTC made all time high on 10^th November 2021 and reached at $68,789.63 according to data provided by Coin Market Cap. BTC is now 43.34% down from ATH. Current price zone is one of the strongest buy zones for Bitcoin which is pushing BTC price upward. Trend line shows BTC bulls are making a comeback and we will soon see BTC above $40K. Lower lows shows there are buyers out their who are buying BTC and hence providing resistance to a brutal crash.

BTC Fear and Greed Index, shows BTC to be at 26 which is “Fear” as compared to last week 25 which represent “Extreme Fear”. This shows BTC fear is reducing and we are seeing a steady recovery.

Impact of Russia Ukraine conflict is also diminishing. After World War 2 many experts says this is the biggest conflict in Europe. Such a big conflict didn’t crash BTC price to below $25K, which proves BTC is the digital gold. BTC on exact 30 days ago on 28.JAN.2022 was trading at $37,128 which is $1,903 less then today trading price. This shows the effect of Russian Ukraine conflict was not significant. BTC has successfully survived its first war. Crypto market is recovering faster than other financial markets. New sanctions on Russia imposed by the US and EU have given investors’ confidence, hence the recovery of all financial markets is gaining momentum, with BTC on top of the list.