Can Bitcoin Break Above $30,000 After Employment Figures Release? These altcoins could also explode


The price of Bitcoin (BTC) is showing this morning Signs of upside ahead of much-anticipated US jobs release. Investors and traders are watching this economic indicator closely, which should have a significant impact on the market. The recent rise in the price of Bitcoin therefore suggests growing optimism among market participants, who anticipate good numbers from the statistics of the month.

In this Bitcoin price prediction, we will explore the factors contributing to its upward momentum, highlighting the potential implications of US employment figures in the cryptocurrency market.

Impact of employment figures on Bitcoin

There next publication of the employment report May’s non-farm is attracting the attention of the cryptocurrency market. The Bureau of Labor Statistics forecast fewer new jobs than the previous month, which could have implications for the US dollar and, therefore, for Bitcoin.

If the actual numbers exceed forecasts, it could have a positive impact on the US Dollar, putting downward pressure on Bitcoin’s value. The market is also eagerly awaiting the publication of the unemployment rate and the average hourly rate for Mayas these factors will further influence the value of the US dollar.

CleanSpark increases its mining production capacity amid declining profitability

Despite an overall 44% decline in Bitcoin mining profitability over the past year, mining companies continue to expand and increase production. This is the case of CleanSparkan American mining company, which recently made headlines in buying 12,500 new Antminer S19 XP units for around $40.5 million.

The timing of this announcement coincides with Bitcoin mining difficulty reaching an all-time high of over 50T, adding further pressure on BTC miners. THE CleanSpark expansion effortsdespite reduced profitability of mining, highlight the company’s commitment to the Bitcoin market.

Commodity Futures Trading Commission May Change Cryptocurrency Risk Guidelines

There Commodity Futures Trading Commission (CFTC) is in the process of revise its risk management program. In this context, curator Christy Goldsmith Romero underlined high risk nature advanced technologies such as artificial intelligence, cloud services and digital assets. She therefore proposed changes requiring companies to prepare for the volatility of cryptocurrency and the risks associated with holding customers’ digital assets.

According to Goldsmith Romero, the commission must review its regulatory oversight, taking into account, for example, the ongoing issues with custody proceedings in the cryptocurrency and digital asset sector.

Bitcoin Price Prediction

During this Friday morning’s market session, Bitcoin has showed signs of bullish momentum bouncing back from the $26,620 level. This aligns with our previous prediction for Bitcoin’s price movement, as we had anticipated this scenario in our recent predictions.

Looking at the 2-hour time frame, we can see hammer candlesticks forming near the $26,620 level, suggesting a decrease in bearish sentiment and a potential opportunity to buy Bitcoin. On the upside, Bitcoin should face resistance around the $27,275 levelwhich also matches the 61.8% Fibonacci retracement level that previously served as a support level.

Bitcoin Price Chart – Source: Tradingview

The $27,275 level is likely to act as an important resistance level, potentially impeding further upward movement for Bitcoin. However, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators have moved into the buy zone, suggesting a high probability of sustained bullish momentum.

Even so, there is a bearish trend line on the daily timeframe, which may limit Bitcoin’s ascent around the $27,275 level. A breakthrough above this trendline could pave the way for further rises leading towards the $27,499 level, or even towards the $28,000 level.

Two altcoins that could explode

Beyond classic cryptocurrencies, there are other opportunities with totally innovative new crypto projects and backed by large-scale entrepreneurial projects. We have selected two that should offer great results, starting this year!

DeeLance (DLANCE): a revolutionary freelance platform

With a presale that has now entered its fourth stage, Deelance is a real success. The revolutionary freelance platform project native token, $DLANCE has already reached $0.038 and allowed to raise $1.2 million.

Many cryptocurrency experts consider Dee Lance as one of the most promising Web3 start-ups of 2023, because it is positioned in a huge market (the recruitment sector is valued at $761 billion) which it intends to disrupt by introducing decentralization and blockchain transparency, between freelancers and employers.

There is no more time to lose for investors who still want participate in the DeeLance project which shows theoretical gains of 50% until the end of the presale.

Launchpad XYZ (LPX): a platform for launching cryptos with great potential

Launchpad XYZ is a cryptocurrency launch platform which is revolutionizing the process of introducing new crypto projects. Indeed, Launchpad XYZ relies on a rigorous selection of projects and an approach based on transparency and trust. It thus offers investors a privileged access to innovative cryptocurrencies from their initial phase.

The platform will also have its own NFT marketplace as well as an innovative wallet system. To participate in the adventure of this complete ecosystem, THE native token of the platform, the $LPX, is now available and the earnings outlook is definitely among the best of 2023 according to some altcoin experts.

This article does not represent investment advice in any way. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.

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Cryptocurrency Price Tracker – Source: Cryptonews





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