No one doubts that Bitcoin is still the most important cryptocurrency, and it may stay that way for a long time, but it is in a complicated moment due to different factors.<\/p>\n
Last weekend Bitcoin held above the $41,500 resistance level over the weekend after it was unable to break the $46,000 resistance level.<\/p>\n
Like currency markets around the world, cryptocurrencies are suffering the ravages of fears of an armed conflict in Ukraine, not to mention doubts about Federal Reserve rate hikes leaving investors.<\/p>\n
In addition, after falling to an annual low of $33,000 in January, the Bitcoin reached monthly highs of $46,000, which was reached at the end of 2021, but the strength shown in February is not consolidated.<\/p>\n
For now, the Bitcoin has traded above $43,500, even approaching $44,000 at times, but it needs a series of positive news for it to maintain that upward effect.<\/p>\n
Some cryptocurrency experts are confident that Bitcoin will return to $50,000 before the end of February, although other scenarios point to a fundamental bearish high of $44,000 before it begins to mark down.<\/p>\n
Even several major cryptocurrency assets suffered a drop of more than 20% in the last week, even with Bitcoin's apparent resilience.<\/p>\n
It is important to consider that the Relative Strength Index (RSI) levels, a price chart indicator that calculates the magnitude of price changes, showed readings of 39 on Monday, suggesting the end of the weekend decline.<\/p>\n
Readings above 70 suggest that an asset is \"overbought\" and could undergo a correction, while below 30 implies \"oversold\" where assets may recover.<\/p>\n
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\nBitcoin price: How's the digital asset starting this week? - Marca English<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"