BTC Price Makes a Comeback to Recapture $28K

Bitcoin Soars as BTC Price Makes a Comeback to Recapture $28K – May 30, 2023

The biggest cryptocurrency hits a low of $25,886 as it makes a comeback to recapture $28K. As Bitcoin’s value increased above the moving average lines, the bulls bought the dips.The bullish momentum stayed consistent below the 50-day SMA.. In other words, the price of Bitcoin is currently being held stable by the moving average lines. As long as buyers are able to keep the price above the 50-day SMA, the rise is likely to continue. One Bitcoin costs $27,803 as of the time of writing.

Bitcoin Price Statistics Data:•Bitcoin price now – $27,803.70 •Bitcoin market cap – $539,060,575,862•Bitcoin circulating supply – 19,387,887 BTC•Bitcoin total supply – $584,088,014,842•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Bitcoin (BTC) rallied and soared above the moving average lines until it was stopped by the 50-day SMA on May 28. Bullish momentum surged to a high of $28.475 before coming to a halt. The coin’s value has fallen between the moving average lines. Buyers were unable to sustain the price above the 50-day SMA or the $28,000 resistance. Breaking the moving average lines will determine how much the price will go. When optimistic sentiment resumed yesterday, the price of Bitcoin concluded its retracement over the $27,550 mark. The price of BTC will reach a peak of $30,000 if the bulls are successful in breaking over the $28,000 resistance level. On the other hand, the downtrend will resume if the bears beach below the 21-day SMA. The previous low of $25,857 will be reached by the market as it declines and reverses course. As an alternative, Bitcoin will fluctuate as long as the moving average lines are still in place. The cryptocurrency asset is in a bullish trend as indicated by the Relative Strength Index for Period 14 is being at level 54.

Bitcoin May “Bring Cause and Effect into Cyberspace,” as Security Strengthens

According to Michael Saylor, executive chairman of MicroStrategy, during a recent interview with Kitco News, Bitcoin may be the solution to fend off cybersecurity risks brought on by artificial intelligence, such as deepfakes. Saylor used an example of a social media account made by a robot to illustrate his points. He claims that there is a digital “civil war” in today’s culture being fueled by billions of false accounts that incite hostility among actual users of digital platforms. “In cyberspace, there is a chance that I could create a billion fictitious individuals and start a civil war by inciting the fictitious Republicans to hate the fictitious Democrats or the real Democrats. Having the fake Democrats rage on the actual Republicans,” the tech executive stated while describing how deep fakes will become more affordable and difficult to identify thanks to artificial intelligence and other next-generation technology.

Bitcoin has reentered the bullish trend zone as it makes a comeback to recapture $28K. The cryptocurrency asset climbed as high as $28,475 before retracing above the $27,600 level. Bitcoin is trying to maintain its position above the present support. If the current support holds, BTC/USD will start a new rally. The market will increase and retrace its steps toward its prior high of $30,000. If the retracement continues, on the other hand, Bitcoin will decline and find support either above the $27,000 level or the 21-day SMA.

Bitcoin Alternatives

Bitcoin’s (BTC) value has risen since breaking through the $28,000 mark. The price of Bitcoin experienced a slight decline as the market moved closer to the overbought zone. If the bulls can break through the $28,000 resistance, the present uptrend will continue. . As the largest cryptocurrency makes a comeback to the upside, the value of other cryptocurrencies and Wall Street Memes (WSM) tokens will rise.The daring Wall Street Bets heroes’ legacy lives on today because the little individual dared to take against Wall Street in the infamous GameStop scandal of 2021. Wall Street Memes, the apex of the internet’s victory over unbridled capitalism, were born out of that movement. In the 1980s, Gordon Gekko stated, “Greed is good,” as he amassed wealth through worthless stocks. After almost 30 years, hundreds of arguably even more pointless meme coins enable common people to carry out the same action. Almost $4 million has already been raised during the presale.                                                                           

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