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On the eve of Bitcoin (BTC) fell below $38,000, but there was no large-scale rollback. This morning, the largest digital currency was able to rebound during the Asian session to $38,271.
According to Bespoke Investment analyst Jake Gordon, BTC has been trading in a narrow range for a very long time. It lacks support to overcome the resistance in the $39,000-40,000 area. The expert does not rule out that the coin may remain at current values for at least another week or even a month.
A similar view is shared by strategist Robert W Baird & Co. Ross Mayfield. He classifies bitcoin as a risky asset and believes that the cryptocurrency will remain dependent on stock indices.
Technology stocks fell about 10% from their recent high, and then capital began to exit the cryptosphere. BTC is moving in tandem with the stock market. At the beginning of the week, the cryptocurrency fell in price to $37,596, but soon managed to win back some of the losses.
G Squared Private Wealth founder Victoria Green predicts that in the medium term, taking into account geopolitical risks, gold will remain the most attractive asset.
A troy ounce of the main precious metal on Tuesday, March 8, rose to $2023 – this is the maximum value since the beginning of August 2020.
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