Bitcoin has shown positive momentum in March: What is next?
We left behind a very active month. In this volatile month, Bitcoin saw the highest level of 2023, but failed to maintain the record level on the last day of the month, showing activity at $27840.
As we left behind the month of March, when the intense data flow and volatility were high, the total value of the crypto money market increased by around 12% and became the winner of the month. Despite seeing the levels of $ 19500 in March, Bitcoin broke the 2023 record and rose to $ 29180 with an increase of around 50%. The rise in Ethereum was limited to 34%. On the last day of the month, Bitcoin shows activity around $27840, while Ethereum finds buyers at $1785.
Bitcoin has shown a positive momentum
The 4th quarter revised growth data from the USA yesterday came in at 2.6%, below the expectations. The decline in consumer spending came to the fore in the revised growth data. The numbers of applications to benefit from unemployment rights, on the other hand, surpassed the data received last week, showing that the tight course in the labor market continues
In his statement yesterday evening, US Treasury Secretary Yellen drew attention to the need to re-examine the regulations in the banking system, and also made statements about the crypto market. Yellen said in a statement; He said the Biden administration continues to examine the potential for systemic risk from cryptocurrencies, adding that Congress should pass legislation to regulate stablecoin issuers and other cryptoassets. Fed member Collins, who also made a statement yesterday; He said the latest data show that the economy is performing better than expected and that after the next rate hike, the Fed will likely hold rates steady for the rest of the year.
