{"id":31772,"date":"2022-07-08T01:50:21","date_gmt":"2022-07-08T05:50:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=31772"},"modified":"2022-07-08T01:50:26","modified_gmt":"2022-07-08T05:50:26","slug":"bitcoin-btc-jumps-8-above-22000","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-btc-jumps-8-above-22000\/","title":{"rendered":"Bitcoin (BTC) Jumps 8% Above $22,000"},"content":{"rendered":"\n
Bitcoin<\/a> is trying to recover from a major dip it had in the past weeks as the coin price rose by 8% in the last 24 hours with its exchange supply dropping steadily.<\/h5>\n\n\n\n
\n
\"\"<\/figure>\n<\/figure>\n\n\n\n

Bitcoin, the world's largest cryptocurrency, has experienced a significant rebound in the last 24 hours. As of press time, Bitcoin<\/a> is trading 8% higher at $22,108, with a market valuation of $422 billion.<\/p>\n\n\n\n

While Bitcoin has been under intense selling pressure over the previous three months, the amount of BTC available on exchanges has been decreasing. According to Santiment\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, an on-chain data provider:<\/p>\n\n\n\n

“Bitcoin\u00a0dominance is back on the menu on a healthy Thursday price surge. We\u2019ve seen\u00a0$BTC\u00a0continue to move from exchanges for nearly 4 years, and this trend hasn\u2019t stopped even with the 8-month price retrace. Meanwhile,\u00a0$USDT\u00a0buying power is rising.”<\/p><\/blockquote><\/figure>\n\n\n\n

\n
\"\"<\/figure>\n<\/figure>\n\n\n\n

While the on-chain indicators point to positive momentum, we'll have to wait and see what the technicals say. BTC has been rejected at the 200 EMA on the four-hour technical chart, and this could very well be a dead cat bounce.<\/p>\n\n\n\n

Could This A Good Time To Buy Bitcoin?<\/h2>\n\n\n\n

Analysts argue that for long-term investors, now is the moment to add BTC to their portfolio. If you are willing to keep it for four years or more, you can continue to do dollar-cost-averaging (DCA) in BTC.<\/p>\n\n\n\n

Jordan Belfort, also known as the Wolf of Wall Street, has expressed his optimism about Bitcoin. He stated:<\/p>\n\n\n\n

“If you take a three or maybe five-year horizon, I would be shocked if you didn\u2019t make money because the underlying fundamentals of Bitcoin are really strong.”<\/p><\/blockquote><\/figure>\n\n\n\n

Bloomberg's senior commodity strategist Mike McGlone, on the other side, believes BTC will begin one of the greatest bull runs in history in the second half of 2022. He also stated<\/use><\/svg><\/span><\/a> that Bitcoin adoption is likely to increase further.<\/p>\n\n\n\n

The Bloomberg strategist also stated that the downside for Bitcoin and cryptocurrency appears to be limited at the current levels. “The roughly 80% drop in the Bloomberg Galaxy Crypto Index is indicative of limited future decline and the growth of cryptocurrency,” he said<\/use><\/svg><\/span><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is trying to recover from a major dip it had in the past weeks as the coin price rose by 8% in the last 24 hours with its exchange supply dropping steadily. Bitcoin, the world’s largest cryptocurrency, has experienced a significant rebound in the last 24 hours. As of press time, Bitcoin is trading […]<\/p>\n","protected":false},"author":33,"featured_media":31774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[],"class_list":["post-31772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/6000.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=31772"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/31774"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=31772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=31772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=31772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}