Bitcoin’s (BTC) price movement isn’t all that exciting right now because investors are nervous about the market.
Bitcoin to Tether (USD) (CoinMarketCap is the source).
CoinMarketCap, a website that tracks the market, says that BTC’s price is up about 0.25% right now. However, the king of cryptocurrencies is still down more than 5% in the last week. The price of BTC is still stuck between $19,000 and $20,000, and it’s at $19,120.04 right now.
At the moment, it looks like market uncertainty is BTC’s biggest problem, and the hawkish attitude of central banks isn’t helping the leader of the cryptocurrency market. There are also no signs that the Federal Reserve will stop doing what it is doing now, which is tightening the money supply. Even though BTC isn’t doing very well, a lot of big names in the industry are still supporting it. Paul Trudor Jones, a well-known trader, said that he thinks the price of BTC will start going up soon.
Will Clemente, co-founder of Reflexivity Research, also said that BTC is a hedge against debasement and that he thinks its value will rise as market instability gets worse.
The rest of the cryptocurrency market seems to be following BTC’s lead. This is clear from the fact that Ethereum (ETH) can’t seem to get above $1,300. Cardano (ADA) and Solana (SOL) are also in the red today, as both fell more than 8% in the last day.
On the other hand, meme coins are doing pretty well, even though things are uncertain right now. In the last day, Doge Coin (DOGE) has gone up by almost 2%. Shiba Inu (SHIB) is also in the green after gaining 0.64% in the last 24 hours.
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