Here’s How 80% Traders Make Profits When Bitcoin To Clear the Resistance of USD 50,000 Soon!

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Bitcoin price continues to climb higher, hitting a 3-week high of USD 44,200. BTC’s sudden rally may be a shocker to the market, however it does not look like the upward movement will be slowing down. And the BTC price may clear the next critical resistance of USD 50,000 soon. 

According to Bexplus analyst Justin Kwok, an analysis director from Bexplus exchange, there are 2 factors that pushed the Bitcoin bullish run again.

After The Federal Reserve announced that it will raise interest rates by 0.25% at its policy meeting last week, Chairman Jerome Powell has been speaking aggressively about put a 50 basis point increase on the table for the coming months and signaled 175 basis points of increases for the entire year. However, investors' tendency to be forward-looking and the fact that Federal Reserve money tightening is already baked in. Put simply, Powell's hint of aggressive rate hikes is hardly surprising, which also removed a significant amount of uncertainty from the market, making BTC price stay resilient. 

From the U.S. Treasury yield curve, we can see that the spread between 10-year and 2-year bond yields is just 17 basis points short of inversion, which means a 2-year yield rises above the 10-year yield, indicating a recession. In addition, Carl Icahn, the billionaire investor and corporate raider, said that the American economy could be in for a “recession or even worse”. A recession signals to investors that the Fed may compromise by stopping raising interest rates in the future.

Bitcoin futures trading is a popular instrument that allows traders to make great profits on the BTC market. One of the reasons why