Bitcoin BTC Bitcoinprice Ethereum Bitcoin bulls battle to hold support at $19k as all eyes are focused on the Fed
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The current consensus is that the central bank will raise the Fed Funds rate by 75 basis points; however, there are some who remain concerned that a full 100 basis point hike might be in the cards as inflation remains a persistent concern. While the situation may seem dire to some, independent market analyst Michaël van de Poppe suggested that things haven't gotten"that bad yet," and is looking for Bitcoin to reclaim support at $19,200 to signal a breakout higher.Boring markets, but it's not that bad yet. pic.twitter.
Unfortunately for MicroStrategy, its average entry price currently stands at $30,639 per BTC, so its previous investments in the top crypto remain down substantially in U.S. dollar terms. If the firm were to have purchased its 130,000 BTC at today's market price, it would have spent $2.48 billion, meaning that the company is currently sitting on a paper loss of over a billion dollars.
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