As the world's largest cryptocurrency by market cap, Bitcoin (BTC) is rapidly approaching the $30,000 resistance level, leading to cautious anticipation among investors and traders. If the price manages to break through this significant barrier and the current indicators hold up, BTC could ride a wave up to $35,000. This potential surge is strongly supported by current banking crisis with multiple US banks experiencing deposit withdrawals in billions and the Federal Reserve facing potential bank closures. The instability of the traditional system could lead investors to seek refuge in alternative assets such as cryptocurrencies. At the moment, Bitcoin trades around $29,323 with a 24-hour volume of $15 billion and a market cap of $567 billion. It also holds a maximum supply of 21 million BTC coins, with 19,359,125 in circulation. For technical analysis, the currency faces immediate resistance at $30,000 and strong support near $29,000, while the 50-day Exponential Moving Average (EMA) points towards a possible positive trend. If the $30,000 barrier is broken, a bullish run could reach $30,400 or $30,800, while any dips below $29,100 target the $28,800 or $28,200's. The cryptocurrency market currently offers a variety of altcoins and initial coin offerings (ICOs) with the potential for short-term or long-term growth. Cryptonews Industry Team has compiled the top 15 cryptocurrencies for 2023, but it's important to keep in mind that their predictions cannot guarantee success.



Other News from Today