BTCUSD course forecast from 23 to 29 May
Last week, at a 3-day financial availability conference, delegates from 44 countries met Bitcoin Beach in Salvador to discuss the first cryptocurrency. Apparently, it turned out that the BTC was well accepted by the people present, including delegates from Paraguay, Ghana and Egypt. Not all investors were excited Fiasco Luna, some took this fall MTV will hold the as an opportunity to replenish stocks. Among them were crypto funds.
These funds recorded a large influx of funds after several weeks of outflow, when the price of BTC fell to $ 25,000, proving that there is still great demand for a “good” initial level. From the total influx of $ 299 million, it means that some existing altcoins were sold to support BTC.
BTCUSD forecast
Although the moods in the Bear market, large whales continue to invest in BTC due to the recent weak dynamics of prices, although at a slowest pace than at the beginning of the month.
It is also reported that Finex whales reduced their positions on BTC and added several new positions of positions to the weekend, when the price of BTC rose above $ 30,000.
The PUT/Call ratio BTC has reached a 12-month maximum, which is a sign that investors are configured like a consistent and expect a further drop in price. The growth of the number of trips in comparison with the collis may indicate that the traders either hedge their briefcase to protect it from the reduction, or are frank bears and try to profit from the further decrease in BTC prices.
In April last year, the PUT/Call ratio reached 0.96 before the price of BTC fell by more than 50% in May 2021.
Without a direct influence on prices, China, despite last year’s ban, returned to second place among BTC production centers.
According to the Cambridge Index of Bitcoin electricity consumption (CBECI), BTC miners in China, as of the beginning of 2022, account for 21.1% of the total distribution of the Bitcoin Hash Eda in the world, yielding only to the United States, which produced 37.8% of the total hashrate. This is a new growth after a decrease in the hashReite immediately after the ban on mining in China. However, in just five months, the indicator recovered by more than 20% and did not fall below 18% during the entire analyzed period.
This material is not a financial advice and brings only familiarization information.
Revenuebot has a Telegram chat for users and an official Telegram channel where the service news is published, as well as relevant information from the crypto industry. You can familiarize yourself with the capabilities of the service on the official website Revenuebot .