Is the Worst Over for the Price of Bitcoin? Or Is It Still To Come?
This is the question on everyone's mind as the price of Bitcoin faces resistance at $38K.
A new week begins and the price of Bitcoin has been facing resistance at $38K all weekend long without ever managing to break it. Nothing alarming at the moment, when you remember that just a week ago the price of Bitcoin was around $33K, and everyone was in panic mode imagining the price of Bitcoin falling below $30K.
That would have been the beginning of a real Bear Market in my opinion, but for the moment the major support at $30K is holding as it did in January 2021 and in June/July 2021.
During the week, the price of Bitcoin had rebounded to $36K and then to $39K for a few minutes in anticipation of Jerome Powell's speech after the FOMC meeting last Wednesday. In the end, the Fed and Jerome Powell did not end the uncertainty with doublespeak that did not satisfy the stock market nor the Bitcoin and cryptocurrency market.
The price of Bitcoin then corrected slightly before returning to around $38K throughout the weekend.
Is the worst already behind us for the price of Bitcoin? Or is it still to come?
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