"The movement of BTC now is like bullish, only that it is slow to rise."
The cryptocurrency Bitcoin (BTC) which acts as a hedge against the issues faced by the financial sector of the United States (US) and Europe in recent times has been the reason why most investors predict that its price will see an increase.
After suffering a loss of $1.5 trillion in 2022, the crypto market is reported to have gained around $390 billion in 2023 as BTC saw a rise in price during that period.
It is well known that the crypto market is witnessing a gradual recovery even though some famous cryptos have failed due to aggressive actions by the US government and issues related to stablecoins.
It is already known that the price of BTC managed to jump due to the failure of banks around the world, but that's not all after the digital asset began to gain momentum when the BTC bill was found to benefit crypto miners in the US.
Even so, the price of BTC was affected when Coinbase received a wells notice* from the US Securities and Exchange Commission (SEC), but the digital asset rose again at the level of $28,812 not long after.
*Official notice from the SEC informing recipients that the agency plans to bring enforcement action against them
According to Michael van de Poppe, the well-known crypto analyst expects the price of BTC, which has already penetrated over $28,000, to be able to jump higher to new highs, where he previously predicted that the digital asset will reach $35,000 in the near future.
As of this writing, BTC price is up 3.48% trading at $28,259 in the last 24 hours with a market cap of $546 billion while Ethereum (ETH) is up 4.39% at $1,812 and Ripple (XRP) is up 4.60% at $0.43.
