{"id":2120,"date":"2022-04-29T05:56:23","date_gmt":"2022-04-29T04:56:23","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=2120"},"modified":"2022-04-29T05:56:23","modified_gmt":"2022-04-29T04:56:23","slug":"bitcoin-btc-accumulation-continues-with-record-mining","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/bitcoin-btc-accumulation-continues-with-record-mining\/","title":{"rendered":"Bitcoin (BTC) Accumulation Continues with Record Mining"},"content":{"rendered":"\n

Bitcoin (BTC) is once again closing in on the $40,000 range. The last days of April may add volatility as futures are settled on the last Friday of the month. BTC remains volatile, dipping under $39,000<\/a> twice this week and quickly recovering.\u00a0<\/p>\n\n\n\n

Late on Thursday, BTC bounced by hundreds of dollars within minutes, rising to $40,220.39, then retreated to the $39,500 range. Trading volumes stuck to their usual range at $32B in 24 hours, while Tether (USDT) volumes reached $64B in 24 hours, covering other coin and token pairs.<\/p>\n\n\n\n

A price move like that will not forestall further dips. After the month end, there are expectations BTC may test highs and then return to another deeper crash. The Crypto Fear and Greed Index is again at 24 points or \u201cextreme fear\u201d, showing caution in expectation of significant price swings.<\/p>\n\n\n\n

The pattern of rapid crashes and spikes, affecting leveraged positions in that range, continues as a short-term driver of price action. BTC has a dominance of 41.7% in terms of market cap, slowly recovering while other assets remained with little change. <\/p>\n\n\n\n

BTC is now mostly decoupled from other assets and ecosystems, and may also have its separate factors to rally. Yet the overall expectation is that the year would run with unpredictable performance. For BTC, this means a wide bearth of error, from rallies to new highs to a potential dip. Most extreme bearish attitudes see BTC dipping as low as $18,000. <\/p>\n\n\n\n

BTC Buying Continues<\/strong><\/h3>\n\n\n\n

Despite the price fluctuations, BTC now exists with unique bullish factors that may signal both acceptance and higher values down the line. BTC is more widely accepted as an investment tool, and has been made part of retirement portfolios for US clients. Still, most crypto enthusiasts still warn the best approach is to self-custody the coins. <\/p>\n\n\n\n

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Fidelity added #Bitcoin<\/a> to 401k plans, and Fort Worth is now mining $BTC<\/a>.

Still think it's going to zero?<\/p>— James Lavish (@jameslavish) April 28, 2022<\/a><\/blockquote>