Things are fine as long as Bitcoin is above $38K.
Bitcoin briefly dropped below $42,000 on September 25. Ik is on track to close the week at a not-so-impressive level.
According to data, BTC/USD pair rose again after losing $1,000 in just one hour on Saturday. The pair started the weekend around $43,000, which is considered critical to be held by analysts.
Other analysts think that lower price levels may also be appropriate after the volatility seen on Friday and the last point for the bulls is the $36-38k band.
One of these analysts is Cointelegraph columnist Michaël van de Poppe. “The critical level for Bitcoin is still the same: the 38-40 thousand dollar band. I would like to see it hold on to this level,” Van de Popper said in his post on Friday.
“The story of China’s crypto “ban” is still one of the hottest topics among commentators. The reaction of the worried investors led to the decline in the prices of cryptocurrencies.
Despite all this chaos, there has been no change in China’s perspective. The government merely restated its current approach. “Over the past 10 years, nothing has brought as much money as the technologies banned in China,” MicroStrategy CEO Michael Saylor summed up.
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