Bitcoin reaches the $27.5K low because there is a lack of purchasers at higher price levels and it is rebounding. It is approximating to the moving average lines. Since March 19, the price of the bitcoin has been range-limited between $26 500 and $28 500 in anticipation of a breakout over the $28 000 high. The ascendant tendency was interrupted due to the fact that there are few buyers at higher price points.
Statistics Data of Bitcoin Price
- Bitcoin price now- $28 064.20
- Bitcoin market cap- $544 108 378 301
- Bitcoin circulating supply- 19 335 818 BTC
- Bitcoin total supply- $590 938 327 218
- Bitcoin Coinmarketcap ranking- $1
Resistance Levels: $50 000, $55 000, $60 000
Support Levels: $25 000, $20 000, $15 000
During the market recovery before being broke off, the Bitcoin price hits a high of $29 171 on March 30 and purchasers will keep the price on top the $29 000 barrier level for the first time. There was a lack of buyers. So, the bulls couldn’t raise the price above the $29 000 high. One Bitcoin is now trading at $28 064 after a recent regression. The oversold sector of the market is approximating to the current flop. Once the price reaches its previous low of $27 000, the selling pressure will probably be reduced. The price of Bitcoin oscillated between $26 500 and $28 500 in the past. And if purchasers support the $27 000 mark the current selling pressure might appease. Since BTC/USD is at level 57 on the Relative Strength Index for period 14, the Bitcoin price is inflating.
BITCOIN ATMS: MORE THAN 3 000 WERE LOST – REACHES THE $27.5K LOW
After 3 627 of the cryptocurrency ATMs were lost last month, the March 2023 will be remembered by the future generations as the month with the highest decrease of them. The unveildness of the first publicly accessible Bitcoin ATM, run by Robocoin, was reportedly made on October 29, 2013, in a coffe shop in downtown Vancouver, Canada. During its first week of operation, 348 transactions of $100 000 were made at the cryptocurrency ATM. But nine years and one day later, Robocoin stopped operations on October 30, 2022. According to Coin ATM Radar, the number of crypto ATMS has continued to rise, with 38 804 currently in operation despite the fact that the first cryptocurrency ATM has been wiped out or replaced. The USA now is the new location of the crypto ATM industry. It has approximatively 88% of the world’s supply of cryptocurrency ATMs and is in charge of 90% of all newly installed ATMs over the past few months.
The sale pressure settles down as Bitcoin reaches the $27.5K low. The price of BTC is going to fall into the lower price range. Historically, purchasers have got back over the $27 000 support during falls. BTC will begin its range-bound rise if the $27 000 support level restrains. The crypto will turn back and start the $29 000 overhead resistance again.
THE ALTERNATIVES OF BITCOIN
As it hits the oversold region, BTC price has come to a rough depletion. The crypto asset is taking back an upward tendency to revisit the resistance at $29 000. If the resistance is continuously tested, Bitcoin’s uptrend will speed up and the $29 000 barrier might be overcome. Some popular cryptocurrencies and LHNU tokens prepare for the second leg of rising period and are consequently in the bullish trend zone. Due to their excellent appreciation, the new LHNU coins interest their Investors. There are less than 4 days left in this presale for LHNU buyings. Be quick not to miss the opportunity. Guys, LoveHateInu is the best voting token. Talk over hot topics and get rewarded. Order your LHNU right now. Almost $2.5 million has already been raised during the presale, don’t miss out!
