Bitcoin hit the network. Won’t he get up? “Grid” of technical analysis and forecasts

The end of this week turned out to be extremely unfortunate for the first cryptocurrency. Leading digital
the asset sank again, sharply surrendering its positions. Experts fear a continuation of this trend, but expect a recovery
MTC.

Analysts believe that the reason for the powerful decline in the main cryptocurrency is a political factor, in particular
the adoption by American President Joe Biden of a capital gains tax for wealthy citizens. Recall that chapter
The White House is ready to increase the capital gains tax rate for those who earn more than $ 1 million a year. According to the agency
Bloomberg, the increase will be twofold: from the current 20% to 39.6%. Along with the tax on investment income, the aggregate volume of the federal
the tax for investors will be 43.4%.

The American leader’s initiative damaged the US stock market. American stock indices
fell by about 1% after the statements of the head of the White House. Following them, the cryptocurrency market slipped, dragging bitcoin along with it.
On the morning of Friday, April 23, the first cryptocurrency fell by 8%. Couple BTC / USD traded near $ 48,300, unable to stay above $ 50
000. The last time the first cryptocurrency fell to such a level at the beginning of March this year. At the very beginning of the day, the leading digital
the asset was running in the range of $ 49,170– $ 49,200. Recall that the previous record bitcoin made $ 64,500 and still hasn’t been beaten.

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Short-term and medium-term forecasts for military-technical cooperation with elements of technical analysis

Many analysts believe that the current decline in the crypto market is due to the consolidation of the military-technical cooperation, however
a number of factors point to the incorrectness of this approach. For example, after reaching an all-time high near $ 65,000
bitcoin has consistently declined, and this process continues to this day. Experts believe that the current drop was not caused by
a sudden reversal of the market, but systematic pressure on the value of the asset.

According to technical analysis, the fall in BTC may be delayed as its price dropped
below the 50-day moving average. When consolidating below this level, an increase in asset sales is possible, if short-term
players will decide to take profits.

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Bitcoin is currently showing bearish signals on most charts. In the opinion
experts, the formed “bearish” pattern of the first cryptocurrency increases the likelihood of the MTC slipping to the next
minimum. The next level of support for the main digital asset may be $ 47,680.

According to experts, bitcoin is “powered” by overarching optimism
investors. The capitalization of the first cryptocurrency is above $ 1 trillion, and the total capitalization of the virtual asset market is trying
stay close to $ 2 trillion. The bitcoin dominance index is steadily declining, but at the same time it is far from the lows.

Relatively optimistic sentiments of crypto market participants, despite the increased
falls are supported by many crypto enthusiasts. For example, popular analyst Willie Wu believes that investors will not give
capitalization of MTC to fall below $ 1 trillion due to the influx of new users. However, new buyers will sooner or later end,
and this can deal a serious blow to the price of a virtual asset.

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Positive views on the near future of bitcoin are demonstrated by Scott Minerd,
investment director at Guggenheim Partners. He believes that the current correction that cryptoassets are going through is a logical
the process of “evolution of a long-term bull market”. According to S. Minerd, in the medium term, cryptocurrency number 1 will reach
$ 400– $ 600 thousand. However, now a difficult time has come for bitcoin: it has risen in price too quickly, and now its price will return to the levels
$ 20,000– $ 30,000 before it skyrockets. In the near future, MTC quotes will fall by 50%, but there is no need to worry, since
a deafening recession will be followed by an impressive rise, the investment director of Guggenheim Partners is sure.

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