BTC Is Barely Trading as It Revisits the $28,000 High

Bitcoin Is in a Range-Bound Movement as It Revisits the $28,000 High – March 29, 2023

The BTC/USD pair is fluctuating in a range between $26,500 and $28,500 as it revisits the $28,000 high. The crypto’s price dropped on March 27 to a low of $26,536 as bulls bought the dips. In order to test or surpass the previous highs of $28,000 and $28,500, the value of the BTC price is rising. When the resistance levels are broken, the largest cryptocurrency will start moving again in a bullish direction.

Bitcoin Price Statistics Data:•Bitcoin price now – $27,537.07•Bitcoin market cap – $532,559,424,214•Bitcoin circulating supply – 19,331,075 BTC•Bitcoin total supply – $578,406,926,538•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Bitcoin (BTC) price has remained in a constrained range since March 19 after failing to overcome the resistance at $28,500. For the past week, the biggest cryptocurrency has maintained a price range of $26,500 to $28,500. Since March 19, this is the only price range that has changed. It has started to rise as of the time of writing and has gotten as high as $27,381 so far. If buyers move past the $28,000 and $28,500 resistance levels, Bitcoin’s bullish trend will resume to the upside. The price of BTC will rise even further if the current thresholds are broken, peaking at $31,000. Bitcoin will fall if buyers are unable to keep the bullish momentum above the $28,000 high. Furthermore, selling pressure might resume if the price falls below the $26,500 support. A low of $25,000 will be reached by the price of Bitcoin. Bitcoin is currently barely trading as it approaches the high of $28,000.

Bitcoin to Get Zero-Knowledge Proofs and Update Network State Validation

The development of Ethereum layer 2s has been fueled by zero-knowledge proofs, and now they are coming to Bitcoin. Zero-knowledge proofs (ZK-proofs) will soon allow Bitcoin users to quickly verify individual blocks and, eventually, the entire blockchain. The Swiss-based nonprofit ZeroSync Association is creating tools that let users verify the state of the Bitcoin network without downloading the blockchain or relying on a third party for verification. The tool aims to modernize the verification of the Bitcoin blockchain process, which currently necessitates that node operators download a sizable amount of data to synchronize the accurate state of the Bitcoin network.

The BTC price is largely stable between $26,500 and $28,500 as it revisits the $28,000 high. The current range-bound movement of BTC is necessary as a result of buyer’s inability to overcome the resistance at the $29,000 high. A rally above the psychological level of $30,000 may be possible if the resistance at $29,000 is overcome. In contrast, if buyers fail to protect the $25,200 support, Bitcoin faces a decline.

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Bitcoin is still on course despite the recent retracement and subsequent sideways movement. Buyers are regaining ground above the $26,500 support in anticipation of Bitcoin continuing its upward trend. The relative high level of stability of Bitcoin has been advantageous for other cryptocurrencies and tokens. The Love Hate Inu (LHINU tokens are not excluded as their value keeps rising. As investors, you have a chance of getting regular returns on your investment, including free cryptocurrencies. Having a lot of Love Hate Inu (LHINU) tokens makes you lucky because it makes your friends jealous. The feelings are just enough to make you feel good because holding and staking LHINU tokens will result in rewards. The possibilities are endless (staking, polls, free crypto and rewards). Nearly $2 million has already been raised during the presale.

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