Cryptocurrencies: What do analysts think?
Experts expect the leading cryptocurrency to continue its rally in the coming days and push the entire market as indicated by the Relative Strength Index (RSI), which shows a bullish divergence on the daily time frame.
“This happens when the price makes a lower low and the RSI reaches a higher high, which usually leads to a future uptrend,” explains Marcus Sotirio, analyst at GlobalBlock.
However, analysts remain cautious as the macroeconomic environment continues to frighten investors due to the European energy crisis.
What is a file Bitcoin Lightning Network?
But while this news gives reason to the pessimists, the fundamentals of bitcoin are growing day by day, as the number of bitcoins in the world is increasing. lightning network It continues to set all-time highs. There are approximately 4,700 bitcoins on the Lightning Network. In addition, MicroStrategy announced Tuesday that it is working on solutions to bring millions of people into the Lightning Network.
The Lightning Network is a scalable solution built on top of Bitcoin, allowing users to quickly send and receive BTC with virtually no fees, “so if this is adopted globally, ‘crypto’ will have a strong benefit with the payment network,” as Sotiriou says.
However, they are on the alert in the market due to the imminence of a potential “black swan” in September, which could send prices to their lowest levels of the year.
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