Bitcoin grew by almost 3% per day

The value of the flagship cryptocurrency has risen above $ 17,000 for the first time in 2 weeks, recording a 5% increase in 7 days and a 2.5% increase in a day. Currently, bitcoin has already dropped, trading at BTC $61,844.71 Bitcoin -0.86% Market capitalization $1.22 trillion VOL. 24 hours $0.51 billion .

Editor’s note: not financial advice!

The CryptoQuant analyst noted that the cryptocurrency market has reached a critical point, and bitcoin is currently near a new historical bottom. «The price of BTC may fall by a few percent, but now is undoubtedly the best time to accumulate digital assets before growth,» the expert emphasized.

Some analysts are convinced that investors should prepare for a further sharp decline in the flagship cryptocurrency, which may be caused not only by the difficult market situation caused by the bankruptcy of FTX and other platforms, but also by mass protests in China due to the lockdown. Jim Wyckoff emphasized that the value of digital assets is influenced not only by events within the crypto community but also by global issues. One of them is the protests of Chinese residents against the rule of Xi Jinping, whose government has imposed strict COVID restrictions. Expert Michael van de Poppe, who posted a tweet on this topic, shares a similar view.

As for the forecasts of other experts, Smart Contracter expects the BTC to grow to $ 17,841 in the near future. The main altcoin, according to Smart Contracter, will rise by 16% in 2 weeks. «I advise you to buy ETH on a falling trend, because in about a week or two, ethereum will rise to new ranges ,» the expert emphasized. The strategist is convinced that ETH $2,394.59 Bridged Ether (StarkGate) -0.94% Market capitalization $0.18 billion VOL. 24 hours $0.25 billion will trade for $ 1350.