Is the market growing? Bitcoin rises to 16300 euros, can it withstand the pressure of the market?
The main cryptocurrency rose to 16,300 euros was able to hold, after the statement of the chairman of the US Central Bank Jerome Powell.
He pointed out that the Federal Open Market Committee (FOMC) will raise interest rates by 50 basis points, and Powell also noted that there are all signs of a slowdown in inflation and an improvement in the market situation.
Also, the CEO of BitBull Capital, wrote that the market reacted very positively to Jerome Powell’s words and added “we may want to see Bitcoin consolidate above 16k euros and possibly test 19-20k euros before we looking forward to a sustainable recovery”
“On the other hand, 14 thousand euros is a key support, if we lose it, we will probably see bitcoin decline,” DiPasquale wrote.
The rate of Ethereum (ETH) is at the previous level, about 1150 euros. On December 1, analyst Glenn Williams reported that the price of Ethereum (ETH) outperformed Bitcoin over the past 10 days, up 15.39% compared to BTC’s 7.69% gain.
US stocks traded sideways on Friday after an encouraging week when the S&P 500 rose above its 200-day moving average for the first time since the spring. The S&P, which has a strong component, fell 0.1% on Friday but gained 1.5% on the week. Technology Index
