In 2023, bitcoin finished in positive territory for four months in a row. If in January and February its value increased by 39.6% and 0.03%, then in March and April BTC rose by 22.9% and 2.81%.
Last Sunday, the cryptocurrency was trading around $29,700 and could break through the resistance at $30,000. However, on Monday, May 1, the bearish trend returned to the market. As a result, bitcoin fell to $28,587.
Ether (ETH) and Binance Coin (BNB) fell to $1,850 and $333.7, respectively. The capitalization of the crypto market at the time of publication of this review decreased to $1.182 trillion.
The head of CMC Invest Singapore, Christopher Forbes, said on Bloomberg TV that liquidity is returning to the cryptosphere, but at a slow pace.
Traders are afraid of further tightening of the monetary policy of central banks and only partially enter bitcoin and other virtual currencies. Any external or internal factor can trigger an outflow of capital from the blockchain industry.
Bloomberg Intelligence analyst Jamie Douglas remains optimistic. In his opinion, capital will go more actively into the cryptosphere if the situation in the global economy stabilizes.
If at least 1% of the capital invested in bonds is moved to BTC, the price of the largest cryptocurrency will soar to $185,000, the expert emphasized.