Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun By Cointelegraph

[ad_1]

© Reuters.

Investor sentiment across the cryptocurrency ecosystem has seen a significant shift in the positive direction over the past week, despite events in the wider world. Currently, (BTC) is back above $43,500 and many altcoins are also witnessing double-digit gains.

Crypto Fear & Greed index. Source: Alternative

The ongoing conflict in Ukraine and recent actions taken by governments to limit access to banking services may have helped to shine a light on the value of holding cryptocurrencies, which offers some protection against uncontrollable events and what some might perceive as government overreach.

BTC/USDT 1-day chart. Source: TradingView
1-week chart. Source: Twitter (NYSE:)
Bitcoin UTXO age bands. Source: Twitter
BTC/USD 1-day chart. Source: Twitter