Chance at Bitcoin and Crypto Recovery Seems Closer Than Expected

Twitter’s crypto community holds its breath as Bitcoin (BTC) charts approach MACD cross.
The community hopes to see a speedier recovery for the crypto market.
Bitcoin (BTC) seems to be in better sentiment since the reigning FUD last month.

Bitcoin could head into a stronger bullish signal if it can hold its present momentum. This observation comes from Lark Davis, active crypto trader and investor, who holds popularity in the Twitter crypto community.

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In detail, Davis points to the Bitcoin price charts as we can see from the tweet above. He states that Bitcoin (BTC) is growing closer to hitting a bullish Moving Average Convergence/Divergence (MACD) cross on the weekly chart.

More importantly, Davis also highlights how the pioneer crypto asset is trading above the 200 week MA. He then ponders if Bitcoin (BTC) can continue to hold its momentum. Indeed, if it can then the crypto industry will collectively rejoice.

Accordingly, responses to the tweet seem quite positive and realistic at the same time. Many preach of patience being the key. Meanwhile, others stress on the importance of holding their assets for a while longer.

Presently, the price of Bitcoin (BTC) is $23,898. CoinGecko analytics states that this price has gone up by 3.9% in the last 24 hours. Bitcoin (BTC) currently sports a total market cap of $456,609,129,405 with a 24 hour trading volume of $50,069,490,945.

It seems sentiments on the crypto space are steadily shifting towards green lights over the past week or so. After all, the Crypto Greed & Fear Index is also slowly turning green. At the moment the number is almost at 40 which is a significant improvement from 13 last month.

Across the world, Bitcoin (BTC) is making headlines everywhere. Just recently, the Netherlands announced listing a new spot Bitcoin ETP. In addition, a Brazilian equities broker announced offering BTC and ETH trading services.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.