Bitcoin price just rose above $30K. After 8 weeks of decline, despite the rally, experts expect the market to continue to decline for some time.
At the beginning of May, the cryptocurrency market suddenly fell in response to the collapse of the UST stablecoin. Amid the panic, the price of Bitcoin dropped below the critical threshold of $30,000.
With the fast weekly close approaching, the price of Bitcoin surged above the $31,000 threshold. As of this writing, the digital currency is trading around $30,870. Bitcoin is still in low territory, far from the highs recorded last year. In November, Bitcoin peaked at $69,000 before settling below $50,000.
If Bitcoin can permanently stabilize above $30,000, the next bottom line to watch is around $38,000. However, many market watchers fear that Bitcoin will register further turmoil soon.
According to the fear and greed index, it has decreased to very few levels, which are 10
What do you think, is the bullrun over? Or did Bitcoin manage to form a basic bottom, and this is the bottom of bullrun?
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