Experts “Cointolab” told why the first cryptocurrency may continue to rise in price in the coming days

On July 31, bitcoin is trading at $23.8 thousand, over the past week the first cryptocurrency has risen in price by 6%. In a commentary by Cointolab, experts analyzed the situation on the market and told what dynamics to expect in the short term.“Risk appetite has increased

Bitcoin climbs above $22k as total crypto market cap tops $1 trillion

“Risk appetite has increased”

The week from July 25 to July 31 began with a decline in the BTC/USDt pair. Crypto assets with US shares fell in price ahead of the US Federal Reserve meeting (July 27). Investors closed long positions in anticipation of an aggressive rate hike by the Fed.

On July 26, the bitcoin rate fell to $20.7 thousand. The weekly low was formed against the backdrop of a fall in US stock indices, as well as a strengthening of the US dollar. The S&P500 fell 0.85%, the Nasdaq fell 1.87%.

The stock market came under pressure after Walmart Inc. cut its profit forecast, and the IMF warned of the possibility of a sharp slowdown in global growth. The dollar, in turn, rose in price due to the collapse of the single currency against the backdrop of the energy crisis (rally in gas prices).

On July 27, a new phase of Bitcoin strengthening began. The growth of quotations resumed following the stock indices after the meeting of the US Federal Reserve. The BTC/USDt pair recovered 7.99% to $22.9K.

As a result of the two-day meeting, the Fed raised the rate by 0.75% to 2.50%. During a press conference, the head of the Fed said that in the future it is possible to increase the key rate by more than 0.75 percentage points, but the decision will depend on incoming data.

Stock indices and cryptocurrencies reacted to US statistics with a fall, then growth resumed with renewed vigor. Investors thought that the Fed would not aggressively raise rates in November as the economy slows down. The Bitcoin exchange rate rose to $24.4 thousand.

On July 29, stocks continued to rally after the US Central Bank raised the rate to 2.5%. Investors liked the earnings reports of large technology companies for the 2nd quarter. The S&P500 and Nasdaq rose 1.41% and 1.88%, respectively.

The BTC/USDt pair rose to $24.1 thousand. Growth stalled, although the road to the $28-30 thousand zone is open to buyers. The upward movement may continue on Sunday. Buyers will close the monthly candle. In July, Bitcoin rose by 22.87% and Ethereum by 61.39%.

The upward movement takes place in the form of small impulses lasting 5-6 hours and corrections 10-13 hours. When a correction lasts more than 40 hours, buyers become nervous and close long positions in anticipation of a correction.

From important macro events: on Monday and Wednesday there will be data on business activity in the manufacturing and services sectors for July. On Friday, the attention of investors will be directed to the report on the labor market. The better the data comes out, the greater the growth of stock indices and cryptocurrencies will be.

In the new week from August 1 to August 7, investors will monitor the dynamics of the ether. If buyers pass the key resistance of $1.8 thousand, then a new wave of purchases of altcoins will begin on the crypto market.

“Bitcoin growth is a likely scenario”

Cointolab experts believe that bitcoin may well rise to $26,000 if the bulls are strong enough to overcome the pressure of the bears. Yesterday’s speech by Jerome Powell gave hope to market participants that such sharp increases in the key rate at the next meeting should not be expected, which means that capital will stop flowing from high-risk assets to low-risk ones, such as bonds.

At the same time, inflation remains at a high level, and the yield on treasury securities, taking into account the current increase, does not pay for this inflation. Under such conditions, investors can try their luck in high-risk instruments, which include cryptocurrencies. Therefore, they can invest part of their capital in bitcoin in the hope that the growth of the bitcoin exchange rate will exceed the growth of inflation, which means that it will help not only save capital, but also increase it.

The growth of bitcoin next week seems to us a very likely scenario. At the same time, I do not rule out a negative scenario, in which all the heights that bitcoin has reached over the past day will be lost due to investors’ fear of rising consumer prices.

Exchange – Cointolab

21 Replies to ““The road to $30,000 is open.” What will happen to bitcoin next week – forecast from Cointolab”

  1. The Roo Casino affiliate program is a high-quality way of promoting your own site and gaining revenue from it. Our licensed dealers will receive the necessary amount of percentage of each deposit to be paid out to them. All affiliates will also receive up to $650 in monthly commissions.
    Enjoy the Roo Rewards program, which gives you exclusive bonuses, regular rewards and special promotions. Here is a list of some of the latest promos, starting at Free Spins on 3D Roulette:
    Once you have verified your account, we welcome you to Roo and allow you to use the casino’s services such as real money play, bonuses, and promotions.
    Roo Casino is here to bring the excitement of online gambling to you. We offer great bonuses and a wide variety of games, including slots, craps, blackjack and more. For the most enjoyable online experience, play at Roo Casino today!
    Roo Casino offers a variety of incentives to get you playing, whether that’s loyalty points or fun bonuses. Join today and start earning those rewards!

    https://policyandsociety.org/aussie-roo-casino

  2. The casino’s registration is limited to those who are 21 or older, and their jurisdiction of residence will be required. If a player decides to choose a particular country, there is a possibility of them being restricted if they were to play online poker with high-rollers.
    Join our Roo Casino Diaries, a series of videos where we get to know our players and their stories. No editing, no sound clips. Just real life in the exciting world of online gambling
    From the creators of the Bananas in Pyjamas triathlon and Bananas in Pyjamas tracksuit, comes Roo Casino Diaries – a unique and exciting new show with equal parts fun and entertainment. The players invited to join Mark Selby in his casino are asked: “If you could become friends with anyone in the world who would it be?” And over five episodes, their choices are debated on a weekly basis. With celebrities from all walks of life adding their perspectives, this is a must-see series for all Roo Casino fans!
    At Roo Casino Australia, you get to play the latest games and the biggest slots. They have a history of offering the best rewards and promotions that include cashback, free spins, tournaments and more!
    Roo casino 425 To Work, Do You Want to Get Full-Featured Slots? Then you have come to right place.

    roo casino 327

  3. Roo Casino is one of the best casinos where you can play new and exciting games, choose from a huge list of all the latest action-packed titles, enjoy fantastic bonuses and promotions, pay securely with a range of payment options. Unlike any other casino you’ll find and much more!
    Roo Casino is a fairly new resource from Roo Global Ltd, as of mid-December 2017. It has been created for people who want to enjoy the benefits of playing in a top class casino and winning large prizes, but who do not have access to an account at a platform like Roxy Palace. On Roo Casino, you can deposit money and play gambling games on the site on your mobile phone or PC, while earning cashback tokens. This can be used to win more credits, which can then be used to place bets on more games. The more credits you win with Roo Casino, the higher your chances of winning big prizes!”
    Play your favorite games and take advantage of the reliable Roo casino service! Enjoy the best variety of casino games, play live for real money with our top Roo casino software or enjoy instant deposit bonuses on your first deposit.
    Roo Casino is Australia’s leading compact online casino. We offer a huge range of games, including online poker and baccarat, and the latest in digital technology.
    Welcome to Roo Casino Australia. A new way to play at the best online casino! With over 1,000 gaming machines and a dynamic welcome package, you can’t go wrong with Roo Casino

    http://roocasino42540592.develop-blog.com/15117823/roo-casino-real-money-for-dummies

  4. The Roo Casino Diaries is an entertaining and engaging account of the exciting year in Vegas, told from the perspective of a casino guest.
    I have been trying to get the system working for about two weeks, nothing works. The only thing I can do is watch videos and read forums/comments. So one hour after I typed this comment another member posted that it was due to an update. So hopefully I’ll see some of you before then…
    Roo Casino Australia is a new online casino that opened its doors in December 1, 2018. This casino offers you the opportunity to win great prizes, bonuses and promotions with their ongoing promotions and welcome offers.
    Roo Casino is a fantastic place to play and win. With a wide selection of games, mobile slots and live dealer baccarat, you won’t be left with any regrets. Sign up for an account today!
    Roo Casino Australia is operated by Roo Digital Limited Pty Ltd, a subsidiary of Ritchie Bros. Australia Pty Ltd.

    http://arthurigkje.blogsidea.com/15158013/roo-casino-real-money-no-further-a-mystery

  5. Ein besonderes Highlight unseres Online Casinos ist, dass Sie die Möglichkeit haben GRATIS an Multispieler Online Spielautomaten Turnieren teilzunehmen. Auch die legale Situation sollte bei Online Casinos in Österreich unbedingt beachtet werden. Immer wieder bieten auch Anbieter vom Ausland unterschiedliche Casinos ohne Lizenzen an. Aus diesem Grund sollten Sie unbedingt überprüfen, ob Ihr gewähltes Casino auch über eine gültige Lizenz verfügt. Nur wenn dies der Fall ist, sollte man Echtgeld in einem Casino einzahlen. Sie können direkt auf der Website des jeweiligen Casinos die gültige europäische Lizenz sehen. Des Weiteren werden die unterschiedlichen Casinos auch immer wieder, wie zum Beispiel von UberCasino überprüft. Auch ein Blick in solche Tests kann Ihnen weiterhelfen. https://angelomcrf209754.blogpixi.com/12590682/casino-spiele-ohne-echtes-geld Sämtliche kostenlose Slots, die Sie bei uns finden, sind identisch mit jenen Automaten, die im Online Casino angeboten werden. Einzig, der Einsatz ist manchmal ein wenig anders, weil die Casinos mit unterschiedlichen Versionen arbeiten. Das Grundprinzip der Slots ist jedoch das gleiche. Viele Online Casinos mit eher schwachen Glücksspiellizenzen bieten Boni als Startguthaben oder Freispiele ohne Einzahlung an. Man sollte sich genau überlegen, bei welchen Casinos man sich anmeldet. Online Casinos mit Glücksspielkonzessionen aus Malta, Gibraltar oder der Isle of Man sind gut. Im Folgenden sind eine Reihe von Casinos, die Spieler Spielautomaten online spielen, ohne Anmeldung. Casino-Spiele sind spannend, machen Spaß und sogar Geld können Sie hier gewinnen. Doch bevor Sie sich ins Vergnügen stürzen, sollten Sie sich mit den Grundregeln vertraut machen. Ist dies geschehen, können Sie sofort loslegen. Casino ohne Anmeldung spielen Sie am besten bei uns.

  6. Roo Casino Australia is one of the top newcasino operator in Australia. Roo is an innovative, award winning and exciting brand, offering a powerful and engaging range of casino games combined with a host of entertainment opportunities to meet local players’ needs.
    I am a full-time college student looking for a job and am currently not even employed. I have been playing at Roo Casino for about two years now, and was hopeful that they would consider hiring me as an affiliate. I have had many conversations with their affiliates team within the last year, but have heard nothing back on my application. As you can imagine, this has created some serious stress on my shoulder
    If you’re looking to play at Roo Casino, then this secret weapon will help you get started. When you sign up for Roo Casino and deposit money with them, they are going ot payback a minimum of $100 of the first $500 that you fund your account with. Most casinos only offer an initial bonus amount on deposits, and with Roo Casino will have funds added to your account from day one.
    Roo Casino is undoubtedly one of the finest online casinos that you will find.
    Roo Casino is an excellent alternative to the average online casino. You can play for free, but you can also play for real money. You don’t have to worry about downloading any software since Roo is available through App Store and Google Play.

    roo casino 425

  7. Hi i am kavin, its my first time to commenting anyplace, when i read this piece of writing i
    thought i could also make comment due to this good paragraph.

  8. I do accept as true with all the ideas you’ve offered to
    your post. They’re really convincing and will definitely work.
    Nonetheless, the posts are very brief for newbies.
    May you please extend them a little from subsequent time?
    Thanks for the post.

  9. Thanks on your marvelous posting! I actually enjoyed reading it, you may be a
    great author.I will ensure that I bookmark your blog and will eventually come back in the future.
    I want to encourage one to continue your great work, have
    a nice morning!

  10. Hi there colleagues, how is all, and what you would
    like to say on the topic of this post, in my view its truly awesome
    in support of me.

  11. I have been browsing online more than 2 hours today, yet I never found any
    interesting article like yours. It is pretty worth enough for
    me. Personally, if all web owners and bloggers made good
    content as you did, the internet will be a lot more useful than ever
    before.

  12. Thank you a lot for sharing this with all folks you really realize what you are talking
    approximately! Bookmarked. Kindly also discuss with my website =).
    We could have a link exchange agreement among us

  13. Great beat ! I wish to apprentice while you
    amend your web site, how could i subscribe for a weblog web
    site? The account helped me a acceptable deal.
    I had been a little bit acquainted of this your
    broadcast provided brilliant transparent concept

  14. Thank you for the auspicious writeup. It actually used to be a enjoyment account it.
    Glance complicated to far delivered agreeable from you!
    However, how could we communicate?

Leave a Reply

Your email address will not be published.