BTC continues to lose ground, however if the $40,000 level is saved, LEO, MANA, KLAY and XTZ could be the primary to recover.
Russia’s huge build-up of troopers, warplanes, instrumentation and extended military drills close to Ukraine’s borders inflated fears of a doable invasion among following few days. that might have revived selling in Bitcoin (BTC), that plummeted below the sturdy support at $39,600.
Among the gloom and doom, there's a ray of hope for crypto investors because information from Glassnode shows that more than hour of Bitcoin provide has not been employed in any dealing for quite a year. this means that long hodlers aren't marketing their positions within the downtrend.
Mike McGlone, chief goods deviser at Bloomberg Intelligence, warned that Bitcoin may well be sure a “rough week ahead" and cautioned that "inflation is unlikely to drop unless risk assets do.” However, McGlone expects Bitcoin to emerge stronger this year.
Could Bitcoin and altcoins stage a recovery and lure the aggressive bears? Let’s study the charts of the top-5 cryptocurrencies which will participate during a relief rally.
( Rakesh Upadhyay, Cointelegraph, 2022 )