Bitcoin (BTC) recently hit a six-week high, signaling the crypto collapse may be starting to ease…
On July 29, Bitcoin briefly rose to $24,412. This resulted in a 4.8% rally for the week and drove a monthly gain of 26.8%.
As a result, the digital token saw its best month since October 2021. It also marked its first period of growth following four months of declines.
The rise was primarily fueled by the U.S. Federal Reserve’s comments suggesting it may slow the pace of rate increases in the wake of its latest 0.75% interest-rate hike.
Even though cryptocurrencies aren’t the same as equities, they have moved in tandem with U.S. stocks over the past several months.
And with the S&P 500, Nasdaq, and Dow Jones benefiting from the Fed’s comments, Bitcoin and other cryptocurrencies such as Ethereum (ETH) have also improved.
Still, Bitcoin’s value remains down by 48% for the year. It’s also 60% lower than its record price of $68,990 in November 2021.
But with many experts forecasting Bitcoin could soon see its cycle bottom, fears surrounding cryptos are starting to ease.
And with some projecting an increase in liquidity in the market, the macroeconomic picture could be gaining positive momentum as well.
So, if the situation further unfolds in this manner, it may help push Bitcoin’s value higher in the weeks and months ahead – making now the perfect time to buy the token and other cryptos before a broader rally.
Wall Street’s Most Conservative Investor Reveals Why He’s Now Doubling Down On Crypto
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We just got hit with a bombshell announcement from financial giant, Fidelity.
They're going to soon let folks add crypto investments to their 401(k) accounts.
This is a massive breakthrough considering Fidelity is the largest 401(k) provider in America with more than 20 million Americans owning a Fidelity retirement plan.
When Fidelity first offered stocks through their 401(k) accounts in 1982… the stock market exploded, with peaks gains of 3,700%.
And according to this Wall Street top gun investor, the same thing is about to happen with crypto – only bigger.
That's why he's putting his money where his mouth is. He's loaded up on crypto to the tune of $1.5 billion in cumulative assets.
He especially likes these two coins without breakout potential that are currently going for under $1 per coin.
You can't let this bear market eat away your retirement savings. You need to take action. I suggest listening to what this billion-dollar investment icon has to say.
