Bitcoin Price Prediction as the Crypto Markets See Huge Selling Volume Coming In – Where is the BTC Bottom?
Amidst the Crypto Markets' huge selling volume, Bitcoin's position has been questioned.
As investors grapple with significant selling pressure, they seek answers: where is the bottom for Bitcoin?
In this Bitcoin price prediction, we delve into market trends and technical indicators to identify potential support levels for BTC and provide insights into its future price movements.
Bitcoin is currently trading at $25,823, with a 24-hour trading volume of $13 billion. With its #1 CoinMarketCap ranking, Bitcoin's current market cap is $500.9 billion.
The chairman of Russia's second-largest bank predicts a shift in global currency dynamics, signaling the decline of the US dollar's dominance.
He says China's yuan is poised to surpass the dollar as the world's reserve currency.
He emphasizes that China recognizes the necessity of making the yuan a convertible currency to attain its aspirations of becoming the top global economic power.
He believes that the time has come for China to gradually eliminate currency restrictions, paving the way for wider acceptance of the yuan.
This forecast reflects the chairman's view on the evolving role of currencies in the global economic landscape.
Andrey Kostin, the chairman of state-controlled VTB bank, has expressed his belief that the era of US dollar dominance is nearing its end.
He attributes this shift to the growing prominence of the Chinese yuan and the widespread acceptance of the effects of Western sanctions, which failed to undermine Russia during the Ukraine crisis.
Kostin acknowledges the negative impact of sanctions on the economy and highlights the changing economic landscape.
He anticipates that while penalties may increase and certain opportunities may close, new possibilities
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