- $2,500 to a random follower if Bitcoin does not reach $50,000 by April 20.
- Bitcoin is down 4.07% in the last 24 hours.
Following Wednesday’s decline, Bitcoin showed indications of recovery as aggressive statements from the U.S. Federal Reserve failed to alleviate market concerns about inflation in the coming months. Price charts reveal that Bitcoin (BTC) fell below a recent upswing and failed to break beyond the $48,000 mark this week. However, at $42,000, substantial support seems to be in place for the asset.
To battle inflation, the Federal Reserve Board decided to reduce its balance sheet by as much as $95 billion each month, or more than $1 trillion over the current financial year. Bitcoin fell below support at $45,000 as a result of the report.
Crypto Analyst Optimistic
In contrast to most crypto analysts, others have gone even farther and believe that Bitcoin will hit $50K by April despite the recent slump movement. For example, famous Bitcoin analyst MartiniGuyYT has declared that he would give away $2,500 to a random follower if Bitcoin does not reach $50,000 by April 20.
If #Bitcoin doesn't reach $50,000 by April 20th, I will give $2,500 to one lucky follower! 👀🚀
— That Martini Guy ₿ (@MartiniGuyYT) April 7, 2022
LIKE ❤️ & FOLLOW @MartiniGuyYT TO ENTER!!!
Moreover, global stock markets and indexes showed a little rebound on Thursday. Investors in Europe’s Stoxx 600 and Germany’s DAX gained 0.46 percent and 0.43 percent, respectively, while futures of the S&P 500 jumped 0.15 percent. In addition, Bitcoin and ether rebounded from Wednesday’s lows, indicating a stabilization of the crypto markets.
Most cryptocurrencies, however, stayed in the red for 24 hours. Dogecoin’s DOGE declined the most, by an average of 11%, followed by Cardano’s ADA, which fell by 8%. According to data, the crypto market’s capitalization fell to $1.9 trillion from $2.4 trillion on Tuesday and is now trading at 2.01 trillion.
