2022 has not been very kind to the biggest cryptocurrency, its price first spiraled down and then has turbulently been jumping up and down. It seems, however, that the long-awaited salvation is on its way, as experts are cautiously optimistic about the digital asset breaking through the $31K resistance.
As reported by Finbold, Bitcoin's rise in the past few days has influenced other cryptocurrencies, pushing more than $70 billion worth of digital assets up the market in the past 24 hours. This sends a signal that the investors are ready to invest in BTC once again.
Coinmarketcap shows the overall market value has risen from $1.22 trillion to $1.29 trillion between June 5 and June 6, representing a growth of 5,7% in just a day. Moreover, the overall crypto trading volume jumped 44% from $42.7 billion to $61.8 billion.
Bitcoin itself has gained 6% of its initial worth from yesterday, climbing to $31,300. Some experts have previously predicted that once the cryptocurrency breaks the $30,300 resistance, it shall embark on an upward trajectory. Michaël van de Poppe, a high-profile expert on digital assets, has recently stated:
“Bitcoin held the $30K level, so long would still be intact from the $29.3K region. Now flipping $30.3K would be a continuation towards $31.8K possible.”
The next few days might be very decisive when it comes to Bitcoin and crypto as such. There is a potential for the digital asset to skyrocket again, however, this potential is not a guarantee. Despite the overall optimism, the experts still warn us not to count our chickens yet.