Bitcoin price analysis; Protection of $ 40,000 support

Analysts attribute the start of the latest wave of bitcoin and coin sales to deteriorating macroeconomic prospects for market traders. This could lead to the price of bitcoin falling below $ 40,000.

February 17 (February 28), after the situation in Ukraine escalated again and Russia expelled Bart Gorman, deputy head of the US mission in Russia, and after a speech by President Biden to the United States, who still believed that the Russian invasion of Ukraine was possible; Bitcoin and other altcoins have fallen sharply in price.

The data shows that the increase in sales pressure again on Thursday afternoon pushed the price of bitcoin to its daily low of 40,081 dollars. Proponents of her case are working to make the actual transcript of this statement available online. Proponents of her case are working to make the actual transcript of this statement possible.

Bitcoin price analysis;  Protection of $ 40,000 support
Bitcoin Price Chart (4-Hour Bitcoin / Tetra Market View)

Many factors affect the price of digital currencies; But analysts say price factors are declining these days.

Two main positions: real interest rates and inflation

David Lifchitz, ExoAlpha’s partner and chief investment officer for the situation in Ukraine and Russia, noted that the situation definitely affects risky assets.

At the same time, although the Ukraine-Russia conflict has made headlines and has been cited as a key factor in lowering asset prices, Lifchitz believes that real interest rates and inflation are the main problems and the focus should be on that.

According to Lifchitz, the current conflict between the two countries could last only a few months, while the issue of interest rates and inflation is a long-term and long-term problem that could affect prices both on a larger scale and in the long run. .

Lifchitz adds:

Bitcoin currently ranges from $ 30,000 to $ 50,000. Until Bitcoin breaks its $ 33,000 support line or $ 48,000 resistance line, trading will continue. At the same time, the price of altcoins fluctuates with a larger range of volatility.

Read also: Bitcoin price analysis; The beginning of the upward trend depends on maintaining the support of $ 42,000

Bitcoin is still strong

Twitter analyst in the digital currency market, nicknamed IncomeSharks, is optimistic about bitcoin despite recent price declines. He adds:

With everything that has happened over the years, and knowing that bitcoin still costs more than $ 40,000, how can you not be optimistic? This digital currency has become more valuable almost every year since its inception. Bitcoin is more solid than what people say about it.

The total market value of digital currencies now stands at $ 1.85 trillion after the recent fall in prices, and bitcoin dominance is 41.7%.

Bitcoin price analysis after publication; Defending $ 40,000 support first appeared in Digital Currency.

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