The return of Bitcoin (BTC) to its beginner levels has provided its loyal investors with much-needed relief and has become very popular lately. Writers, entrepreneurs and many celebrities seem to be interested in entering the fantasy world of Bitcoin.
Writer JK Rowling, who gained world fame and fame with the Harry Potter series, announced on Twitter that he wanted to understand Bitcoin (BTC). The person who came to answer the question was none other than Ela Musk, Tesla’s Billionaire founder. In the comments section that turned to the stargate at once, everyone recommended Rowling to include Bitcoin in his magical world.
Bitcoin (BTC) Technical View
Bitcoin reached its levels before the devastating decline on March 12. Investors holding bitcoin took a breath. Moreover, BTC / USD is showing an upward trend. Given the macroeconomic conditions now, the biggest advantage can be in Bitcoin.
Bitcoin comfortably remains above the 20-day Exponential Moving Average. These levels are expected to react and act as a support level if Bitcoin starts to drop. The Relative Strength Index or RSI is currently slightly rising.
Will Bitcoin (BTC) Progress Continue?
Although Bitcoin is currently a bull, we cannot say that it has completely recovered from danger yet. The world economy is still fighting the COVID-19 outbreak. Unless the economy is back on track, people will turn to safer assets. Gold has proven to be one of the safest paradises over time. Investments other than gold, which will provide protection against such a crisis, have not yet proven their worth.
In addition to his fear of Coronavirus, the US President is trying to corner China. This stance led to new fears surrounding a war that could become ugly. Therefore, it is wise to wait prudently before making significant investments in risky instruments such as Bitcoin.