Price analysis 4/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
WikiBit 2024-04-23 19:30Bitcoin and altcoins have turned bullish following the BTC supply halving. Are new all-time highs in the making? The S&P 500 Index (SPX) fell 3.05%
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Price analysis 4/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
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Bitcoin and altcoins have turned bullish following the BTC supply halving. Are new all-time highs in the making？
The S&P 500 Index (SPX) fell 3.05% last week as hopes for a handful of interest rate cuts by the United States Federal Reserve dwindled due to elevated inflation readings. In comparison, Bitcoin (BTC) declined just 1.1% last week, indicating strength.
Capriole Investments founder Charles Edwards said in a X post that Bitcoin‘s raw electricity cost per mined block is $77,400. He added that Bitcoin’s price remains below the “electrical cost” for only about a couple of days every four years, which means that Bitcoin is “trading at a DEEP DISCOUNT.”
Bitcoin is likely to remain volatile in the next few days as the bulls and the bears battle it out for supremacy. If Bitcoin remains range-bound in the near term, it may attract buyers toward select altcoins that may resume their up move.
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