Bitcoin Cannot Be Stopped by Bad News, Latest Reports Claim

It’s been just revealed that Bitcoin cannot be stopped by the bad news these days. Check out the latest price prediciotns about the king coin below.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $28,914.

An important crypto analyst says that less-than-favorable news cannot stop the strong momentum of Bitcoin (BTC).

In a new video update, popular crypto trader Jason Pizzino said that Bitcoin and the stock market appear to be shrugging off bad economic news.

According to Pizzino, Bitcoin has kept its head above waters despite the threat of a recession and banking collapses.

“For nearly two months, Bitcoin has been trading over $25,000. With all of the bad news that we have seen in the markets, nothing is swaying Bitcoin from hitting $30,000, $40,000, maybe even $50,000 this year…”

He continued and stated the following:

“Even the stock markets are putting aside bad news, bad fundamentals, looming recessions, sticky interest, banking collapses, and setting new price highs for the year.”

According to the latest reports revealed by the Daily Hodl, it seems that despite heightened volatility in the crypto market, the first quarter of 2023 has ended on a good note.

“The crypto market performed strongly in Q1 2023, with the total market cap growing by 49% to $1.19 trillion. Bitcoin (BTC) rose 72% and closed at $28,440, while Ethereum (ETH) rose 53% and closed at $1,827,” the same online publication mentioned above revealed.

This upward trend was driven by multiple factors, including tightened monetary policies and the bank crisis.

On the other hand, there are a few indicators – such as increased outflows from stablecoins and capital outflows from exchanges – that show that this trend may not be sustainable.

Check out our previous article in order to learn more details about this.