2 min read
04 Jan
04Jan
Despite escalating geopolitical tensions and the US military attack on Venezuela, the price of Bitcoin has not shown a strong negative reaction and remains above the key level of $90,000.
This is while risky assets usually fall in response to political and military shocks.
Bitcoin briefly fell below $90,000 in the early hours of Saturday, but quickly regained this important psychological level.
According to market analyst Nick Pakrin, Bitcoin's neutral reaction to news at this level is a sign of greater market maturity and reduced investor fear.
Technically, Bitcoin is still trading above the 21-day moving average ($88,678), a level that acts as a support and its hold could be a sign of a continued bullish trend in the short term.
However, some analysts warn that volatility could increase as US financial markets reopen and institutional investors return.
Overall, the market has so far shown resistance to political shocks, but the possibility of sudden fluctuations remains high, and in such circumstances, capital management and risk control are more important than ever.
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