Digital gold confidently overcame the resistance level of $52,000. After that, investors increased their long positions. Now the token is testing the area of $55,000, which serves as a good signal for crypto investors. In case of further growth, we can expect the $58,000 mark, since in May of this year this level restrained market participants from further growth. We do not forget that there is such a rule as "history repeats itself" in the markets, because in our forecast we see exactly such a goal in the near future.
The capitalization of the cryptocurrency market by the end of Wednesday amounted to 2.29 trillion US dollars against 2.22 on Tuesday.
Trading is influenced by global market signals. Turbulence and panic in the US stock market increases the importance of the cryptocurrency market as a safe haven.
It became known that the securities of tech companies are less attractive for purchases against the background of the rising value of US bonds. Rising inflation and weekly publications of good US macro statistics are pushing the Fed to change monetary policy.
Earlier, Gary Gensler, the head of the US Securities and Exchange Commission, reassured market participants with a statement that the regulator does not plan to ban cryptocurrencies, since Congress should deal with this issue.
And it also became known that billionaire George Soros invested in bitcoin.