Bitcoin price has rebounded nearly 5% and regained above $30,000 this followingnoon. Because investors bought following several days of falling from the $30,000 level.
As of 2:13 p.m. ET, the bitcoin price rose $1,443, or +4.95%, to $30,605.
Anthony Trenchev, founder of cryptocurrency lender Nexo, said: over the past few days Bitcoin prices tumbled on the collapse of TerraUSD, or UST, and the Nasdaq, as well as concerns regarding the Federal Reserve’s accelerating interest rate hikes.
“Bitcoin adjusts to these factors. This is a link that cryptocurrency investors don’t want to happen. I expect the Bitcoin bear to continue for some time. Just because the bitcoin price is currently rallying above $30,000 does not mean the stagnation is nearing its end. And if Bitcoin falls below the $28,000 level, it is likely that it will drop to test the $25,000 level,” Trenzef said.
