CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News
The Federal Reserve interest rate hike has pushed up most assets, including cryptocurrencies. The Bitcoin rose from $22,000 to touch $24,000 on the back of the global rally. So, will BTC/USD price rise even higher? Well, as the weekend chill sets in, the traders are looking to book profits and charts can witness muted price action. However, the Bitcoin price analysis is definitely in the green region.
Bitcoin price movement in the last 24 hours: Sideways but not silent
As the entire crypto market rejoices the Federal Reserve rate hike, the Bitcoin charts are sparkling as well. Currently, the price is trading near $23,900 and most technical indicators are in the green zone. The 20-day Exponential Moving Average is well below the price and is providing support to the pair near $22,200. The Bitcoin price analysis further shows that the buyers are lining up near $22k support and below at $21,600. So, any sharp correction will be an opportunity to buy the dip.
The daily charts show a crossover of the moving averages. The movement into the positive region is also confirmed on daily charts with the rising RSI technical indicator which now stands above 60 level. The bullish crossover will be further confirmed if the pair closes the week above $23,000 mark.
If the bulls are able to drive the price beyond $24,276, the buyers can certainly target $25,900 first and then $28,000. The upward momentum is definitely intact in the rising price channel. If this trend continues, the Bitcoin price analysis reflects achieving $32,000 target.
BTC/USD 4-hour chart: BTC holds onto lofty targets
Bitcoin price analysis shows that the demand can surge quickly if the pair closes above $24,340. More buyers will emerge as the price breaks the symmetrical triangle and the price channel rises with sharp slope. If the support at $22,300 cracks, the bears will swiftly swing into action and weaken the current momentum.
Facebook CEO Mark Zuckerberg Promotes the Metaverse
According to Citi GPS, the metaverse will have 5 billion users by 2030. Despite the promise of the metaverse, there are many dark side risks, including regulatory uncertainty, money laundering, counterfeit NFTs, trading scams, and high volatility of most cryptocurrencies. One advantage that big firms have over small players is the budget and data privacy measures that they have in place. They can invest in the metaverse, and they will not lose the trust of users.
Facebook CEO Mark Zuckerberg is promoting the metaverse, and he’s already mentioned the idea in public. Meta is a virtual world that allows users to interact with avatars. It is a parallel universe that can be accessed through a computer network. The metaverse was made possible by the fusion of virtual reality and augmented reality. As a result, people can communicate with each other using the avatars created by other users.
The metaverse was coined by author Neal Stephenson in his seminal 1992 novel Snow Crash. In the novel, protagonists wore VR goggles and left the “actual” world behind to engage in a virtual reality world. While the Metaverse has grown in scope since then, it remains a difficult concept to define. Users and creators of virtual worlds may view it as a form of unfulfilled “aspiration”.
Although the idea of the metaverse is intriguing, some crypto kids worry that companies will dominate it. In this case, the blockchain technology may change that, but companies have traditionally had the upper hand. The success of the decentralized autonomous organization depends on its commercial partnerships, platform creations, and gaming preferences. The Metaverse has the potential to disrupt the way we live and work. Some companies have already started creating games based on the metaverse. A recent game called Decentraland aims to make users monetize their time spent in the metaverse.
