• BTC/USD is rangebound above $5,300.
  • The coin has demonstrated strong growth in April.
  • Experts are cautiously optimistic about the perspectives of the market.


BItcoin (BTC) has been moving inside a narrow range since May 1. The first digital coin is dancing around $5,300 handle amid a thick fog of uncertainty created by Tether scandal. At the time of writing, BTC/USD is changing hands at $5,320, mostly unchanged both since the beginning of the day and since this time on Wednesday.

From the longer term perspective, Bitcoin enjoyed a 22% gains in April and finished the third positive month in a row for the first time since December 2017. This notable development has made cryptocurrency experts wonder about what to expect from the digital asset in the upcoming months. 

While the overall perspectives look optimistic, some experts remain cautious, claiming that the green shoots are still young and vulnerable to headwinds.

“The market is still somewhat indecisive as to the direction it should go. Even though Bitcoin has been rising in price steadily, we have not entered a bull run yet,“ Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital noted, cited by Forbes.

This view is shared by Marouane Garcon, managing director of crypto-to-crypto derivatives platform Amulet. He says that the market has not created clear signals of a sustainable bull market as yet.

Meanwhile, Tom Lee, the head and the managing partner of Fundstrat Global Advisors, believes that the crypto winter is over. He singled out 11 positive signals that proved the point.

BTC/USD, daily chart

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

BNB drops by 4% as Binance confirms potential $586 million exploit on BNB Chain

BNB drops by 4% as Binance confirms potential $586 million exploit on BNB Chain

The world’s largest cryptocurrency exchange is observing an attack on its token chain and cryptocurrency. In response, Binance Coin’s price began falling on the charts making the investors highly concerned.

More Binance Coin news

Why the MATIC price could fall toward $0.60 in October

Why the MATIC price could fall toward $0.60 in October

MATIC price has rallied 20% since the middle of September. Polygon price faces significant resistance near the upper bounds of a descending trend channel. Invalidation of the bearish thesis is a breach above $1.05.

More Polygon news

XRP price is setting up for a sharp decline toward $0.40, here's why

XRP price is setting up for a sharp decline toward $0.40, here's why

XRP price could witness a sell-off into the mid $0.40 levels if the bulls hurdle through the $0.50 barrier. XRP's failure to maintain momentum over the $0.50 threshold may result in Ripples' demise. Invalidation of the bearish thesis is a breach above $0.51.

More Ripple news

MakerDAO allocates $500 million in DAI toward US Treasuries and Corporate Bonds

MakerDAO allocates $500 million in DAI toward US Treasuries and Corporate Bonds

Partnering with Monetalis, MakerDAO will be using its stablecoin reserves to invest in US Treasuries and corporate bonds. $1 million has been set for the pilot transaction, following which the debt ceiling will rise to $250 million and $500 million.

More Cryptocurrencies news

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin price has developed a bullish divergence with RSI, hinting at more upside. Despite the optimistic technicals, investors should expect volatile swings before the end of the third quarter of 2022. 

Read full analysis

BTC

ETH

XRP