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Bitcoin (BTC) at $46,500 – Will it still be the strongest weekly close in 2022?

 


The bulls did their best for Bitcoin ( BTC ) today, April 3, in a last-minute attempt to close the week above the all-important $46,000 mark.


Exciting finish

Sunday was quite exciting, as the experts had announced noticeable volatility in advance.


Indeed, the weekend was full of surprises for BTC/USD as overnight a drop to $45,000 dampened hopes before bouncing back higher for the photo finish.


This allowed the second weekly close above $46,200 in 2022 to be bagged after all.



At a current price of 46,500 US dollars, Bitcoin still has room for improvement, but a further downturn could spoil the mood in the last few meters.


On the other hand, with an additional plus of 500 US dollars, Bitcoin would even create the strongest weekly close of the year.


“Bitcoin is defending the important mark here, so if we at least stay above $45,000, a continuation is likely,” as Cointelegraph contributor Michaël van de Poppe summarizes the current situation .


Like many of his peers , Van de Poppe is hoping for a jump to $50,000 in the coming weeks after the market-leading cryptocurrency recently regained significant strength.


Altcoins are also trending again

Interest in altcoins has also returned significantly this week.


As Yann Allemann and Jan Happel, co-founders of crypto analytics service Glassnode, note, this upsurge in altcoins comes in lockstep with market leader BTC.


An additional $200 million was invested in the crypto market this week, half of which is Bitcoin alone.

Investors' increased willingness to take risks contrasts with the expectations of the experts, who were more cautious in Q2 given the macroeconomic situation.

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