Bitcoin Could Surprise to the Upside

Bitcoin Could Surprise to the Upside

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Hi Crypto Academy Network, Risky assets made a strong comeback last week. The United States equities markets rallied more than 5.4% and the crypto markets saw strong gains in select altcoins. Although Bitcoin sustained above the psychological level of $20,000, the gains have been muted. This shows that the investors remain cautious and are not convinced that a bottom has been formed. Institutional investors continue to withdraw funds from digital assets, according to the latest CoinShares’ weekly “Digital Asset Fund Flows” report. Digital investment products saw the largest outflows of $423 million, mainly due to outflows from the Canadian exchanges on June 17. The recovery in Bitcoin’s price could be a long-drawn affair, according to Binance founder and chief executive Changpeng Zhao. In an interview with The Guardian, Zhao said that it could “take a few months or a couple of years” before Bitcoin reaches its all-time high but added that “no one can predict the future.” Bitcoin’s recovery could not rise above $22,000 and reach the 20-day exponential moving average (EMA). This suggests that demand dries up at higher levels and bears continue to sell on minor rallies. KEY TRADING LEVELS ETH TRADE XRP TRADE BTC TRADE Top Content This Week! Recession Fears Halt Crypto Bounce Goldman Sachs Downgrade Coinbase Ripple CEO Brad Garlinghouse Top Article This Week! Use of AI Technology in the Metaverse Musicology’s Masterkey Nft Sale Content Creator Contest by MINE Earnings Disclaimer The information you’ll find in this email is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgment and perform due diligence before using the information in this email. Your success is still up to you. Nothing in this email is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. We also recommend that you check all UK laws to make sure you are in compliance when you create your online business. If you break the city or other local laws, we will not be held liable for any damages you incur

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