BitBull Capital CEO: It’s been a Good Week for Bitcoin

BitBull Capital CEO It's been a Good Week for Bitcoin

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Bitcoin

Bitcoin and other major cryptocurrencies saw a slight decline, but overall managed to perform well over the past week.

Crypto also managed to withstand the first interest rate hike of the United States (US) central bank or the Federal Reserve in four years as well as the sentiment of the Russian attack that is still happening in Ukraine.

Cryptocurrency

On Monday (21/3/2022), the largest cryptocurrency by market capitalization, bitcoin was recently trading at around USD 41,200 or around Rp. 590.9 million, down about 1.3 percent over the past 24 hours.

Bitcoin also briefly hit USD 42,000 over the weekend. The increase was more than 7 percent from the start of last week as investors digested the Federal Reserve’s long-expected 25 basis point gain on Wednesday and global unrest linked to the Russian invasion.

BitBull Capital’s CEO of fund manager Joe DiPasquale said this week is going to be a good week for Bitcoin.

“It has been a good week for Bitcoin. We have held support above USD 40,500. If we can break through the next resistance line at USD 42,500, we could see a break to USD 45,000 as we saw on the last day of February,” DiPasquale said, quoted from Bitcoin.com, Monday (21/3/2022).

DiPasquale added that low trading volume is normal for activity over the weekend. He expects it to increase over the course of the week.

“With equity markets up again, there’s a moment to be had in bitcoin, ethereum and other assets if Monday starts strong,” he concluded.

Crypto Prices Monday Morning 21 March 2022

BitBull Capital CEO It's been a Good Week for Bitcoin

Previously, entering the fourth week of March 2022, the prices of Bitcoin and cryptocurrencies at the top of the list seemed to be compactly weakening, Monday, March 21, 2022. The majority of cryptocurrencies, which had been strong for several days, have now weakened again.

Based on data from Coinmarketcap, Monday morning, the cryptocurrency with the largest market capitalization, Bitcoin (BTC) fell 1.35 percent in the last 24 hours, but is still up 6.73 percent in the week.

Currently, the price of bitcoin is at the level of USD 41,265.40 per coin or equivalent to IDR 598.3 million (assuming an exchange rate of IDR 14,342 per US dollar).

Ethereum (ETH) as the largest cryptocurrency also weakened. In the last 24 hours, ETH is down 1.55 percent. However, it is still up 11.98 percent in the week. With that said, ETH is currently at USD 2,868.94 per coin.

The next cryptocurrency, Binance coin (BNB) this morning also weakened. In the last 24 hours BNB slipped 1.34 percent but is still up on the week 5.94 percent. That makes BNB priced at USD 391.75 per coin.

Then Cardano (ADA) also fell again in the last one day 1.03 percent. But still up 10.09 percent in the week. Thus, ADA is at USD 0.8806 per coin.

Meanwhile, Solana (SOL) has also been sluggish for the past day at 2.90 percent, but is still up 11.67 percent in a week. Currently, the price of SOL is at the level of USD 88.99 per coin.

XRP is still weak to this day. In the past day, XRP has lost 0.81 percent, but is still up 2.76 percent for the week. That way, XRP is now priced at USD 0.8052 per coin.

Terra (LUNA) also weakened, in the last 24 hours, Terra weakened 1.28 percent. However, it still managed to gain 3.52 percent in the week. Currently LUNA is priced at USD 90.80 per coin.

Stablecoins such as Tether (USDT) and USD coin (USDC), both weakened. USDT weakened 0.02 percent which makes the price is currently at the level of USD 1.00.

Meanwhile, USDC fell 0.01 percent in the past day which keeps the price per coin currently at USD 0.9998.

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