Cryptocurrency traders and analysts continue to share their opinions on the performance of Bitcoin (BTC). One popular analyst, Michael van de Poppe, has recently shared his views on the world's leading digital asset that currently trades at around $29k. According to Poppe, if it stays above the $28.9k support, the price of BTC is likely to climb to $30.5k. He also cautioned, however, that the Unemployment Data set to be released in the near future could have an impact on the currency’s price.

Another crypto trader who goes by the name of Trader Tardigrade also shared his thoughts about BTC on Twitter, claiming that it is currently in a “storing of power” phase. The trader went on to show two BTC charts from various stages in the asset’s past, which seemingly served to support his statement.

It cannot be denied that Bitcoin has been experiencing some turbulence of late, as evidenced by its 0.23% price dip in the past 24 hours and 0.59% decrease over the past seven days. The digital asset has also weakened against its biggest competitor Ethereum (ETH) over the past day, with a drop of 0.04%.

The ultimate effect of the upcoming Unemployment Data remains to be seen, but some analysts are hopeful that it will have a positive impact on the cryptocurrency markets. While cryptocurrency traders have to wait and see the outcome of this data, it is essential for them to be mindful of the potential risks, even in the midst of the optimistic outlook.



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