ECB raises interest rates by 0.75 basis points - Bitcoin goes 6 percent Up!
9/9/2022, 06:16 AM
In the past week, Bitcoin has shown a slight recovery after a sharp correction to $19,000. This correction was most likely due to a whale selling large amounts of Bitcoin. September is typically a weak month for the crypto market, so the recent interest rate hike by the ECB was welcomed by the crypto community.
Bitcoin has been consolidating sideways over the past few days, and this has increased the probability that the recent correction was indeed the bottom for Bitcoin. Despite the recent price jumps of around 5%, the volatility of Bitcoin is still relatively low. This is typical for a Crypto Winter market, where long periods of sideways consolidation at low prices are common.
The ECB's decision to raise interest rates has had a positive effect on the Bitcoin price, which has jumped by 6% as a result. This increase comes after a period of sideways consolidation, during which the Bitcoin price has remained relatively stable.
The ECB's interest rate hike is seen as a positive development by the crypto community, as it indicates that the European economy is strong enough to withstand higher rates. This is seen as a positive sign for the future of Bitcoin and other cryptocurrencies.
The current sideways consolidation is seen as a positive development by many in the crypto community, as it indicates that Bitcoin has found its bottom after the recent sell-off. The low volatility during this period is also seen as a positive sign, as it indicates that the market is not as volatile as it was during the "crypto winter" of 2018.
Bitcoin has been consolidating sideways over the past few days, and this has increased the probability that the recent correction was indeed the bottom for Bitcoin. Despite the recent price jumps of around 5%, the volatility of Bitcoin is still relatively low. This is typical for a Crypto Winter market, where long periods of sideways consolidation at low prices are common.
The ECB's decision to raise interest rates has had a positive effect on the Bitcoin price, which has jumped by 6% as a result. This increase comes after a period of sideways consolidation, during which the Bitcoin price has remained relatively stable.
The ECB's interest rate hike is seen as a positive development by the crypto community, as it indicates that the European economy is strong enough to withstand higher rates. This is seen as a positive sign for the future of Bitcoin and other cryptocurrencies.
The current sideways consolidation is seen as a positive development by many in the crypto community, as it indicates that Bitcoin has found its bottom after the recent sell-off. The low volatility during this period is also seen as a positive sign, as it indicates that the market is not as volatile as it was during the "crypto winter" of 2018.