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Why is Bitcoin Dropping? by rtonline

View this thread on: hive.blogpeakd.comecency.com
· @rtonline ·
$20.83
Why is Bitcoin Dropping?
Stock markets in many countries, including China and European countries, will be closed on Monday, May 1, due to Labor Day. 

There will be important developments this week, one of which is Microstrategy's balance sheet will be announced on Monday, May 1, many people in the crypto market are eagerly waiting for this statement.

On Tuesday, May 2, the Eurozone Consumer Price Index (CPI) will be announced and the market expectation is that the CPI will be 7%. Previously, the CPI was announced as 6.9%. 

On Wednesday, May 3, the US Federal Open Market Committee (FOMC) will make a statement, followed by Fed Chairman Jerome Powell. Markets expect the Fed's rate decision to increase by 25 basis points. And so the interest rate will have reached its highest level since 2007. The interest rate, which was 5% previously, is expected to rise to 5.25% on Wednesday.

In addition, on Thursday, May 4, the European Central Bank (ECB) will announce its interest rate decision, and the expectation of the markets is that there will be a 25 basis point increase in interest rates. In other words, the interest rate from 3.50% is expected to rise to 3.75% on Thursday.

US Non Farm Payrolls Data and Unemployment Rate will be released on Friday, May 5th. The unemployment rate is expected to rise from 3.5% to 3.6%.

There will be very important developments this week and in many markets, including the crypto market, investors do not want to take too much risk, so there are decreases in the markets. Developments in the global economy and the decisions of central banks affect crypto markets as well as all money markets.

 https://images.hive.blog/DQmZdwDv8CusfSsCQ2PTXXX3Nsg5jXRYcH7FZadFKrkgp5b/btc01052023.png 

Bitcoin is currently trading around $27923 and has lost about 5% compared to yesterday. But when we look at it on a weekly basis, it seems to have increased by 1.8%. If this week's economic data is above expectations and selling pressure increases, there may be more declines and Bitcoin can fall to $25,000, but if there is no development beyond expectations and buying increases, it can quickly recover and retest $30,000.

We'll wait and see...

I think Bitcoin will exceed $50,000 this year. What is your Bitcoin price prediction for 2023? 

>This is not financial or investment advice.

Posted Using [LeoFinance Alpha](https://leofinance.io/@rtonline/why-is-bitcoin-dropping)
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@fjworld ·
$0.02
The other day I questioned in a post if 27k was a support level.
If we are starting a decline below 27k you could be a long way before you see 50k.

Maybe 27k is the new resistance level. !LOL
Best of luck.

!CTP
!LEO
!ALIVE
👍  
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@lolzbot ·
<div class='pull-right'><center><img src="https://lolztoken.com/lolz.png"><br><a href="https://lolztoken.com">lolztoken.com</a></p><br><br><br><br></center></div><p><center><strong>My girlfriend left me because of my obsession with storytelling.<br>I wonder how the next chapter in my life will go.</strong><br><sub>Credit: <a href="https://peakd.com/@reddit">reddit</a></sub><br>@rtonline, I sent you an <a href="https://lolztoken.com">$LOLZ</a> on behalf of @fjworld<br><br>(2/10)<br><div class='pull-left'>https://files.peakd.com/file/peakd-hive/cryptoshots.nft/23xoaireZsyZCrvZLKneUuKiKWkGSajVRi9FspoMe3F5bpYmsQR8tyvNzoiQ3uJLLfqPy.png</div><br><h2><center><a href='https://play.crypto-shots.com'>PLAY</a> & EARN <a href='https://hive-engine.com/trade/DOOM'>$DOOM</a></center></h2></center></p>
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@rtonline ·
It's hard to know which direction the price will go in the short term, but I think it will eventually reach 50k. Meanwhile, the Bitcoin halving is less than a year away.

Posted Using [LeoFinance Alpha](https://leofinance.io/@rtonline/re-fjworld-gkwik5wt)
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@fjworld ·
Short term I guess up and down which means timing for traders.
Longer term, time is on your side if your not too old. !LOL
You have a new follower. I like predicting outcome so it is always good to have lots of input.
Have a great day.
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@youarealive ·
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@harhess ·
@rtonline
For Bitcoin to be currently trading at $27923
The price at the end of 2023 can exceed $50000 
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@rtonline ·
I think so too.

Posted Using [LeoFinance Alpha](https://leofinance.io/@rtonline/re-harhess-2x5pjpdff)
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@hivebuzz ·
Congratulations @rtonline! You received a personal badge!

<table><tr><td>https://images.hive.blog/70x70/http://hivebuzz.me/badges/pud.s1.png?202305020006</td><td>You powered-up at least 10 HIVE on Hive Power Up Day! This entitles you to a level 1 badge.<br>Participate in the next Power Up Day and try to power-up more HIVE to get a bigger Power-Bee.<br>May the Hive Power be with you!</td></tr></table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@rtonline) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>


**Check out our last posts:**
<table><tr><td><a href="/hive-122221/@hivebuzz/pum-202304-result"><img src="https://images.hive.blog/64x128/https://i.imgur.com/mzwqdSL.png"></a></td><td><a href="/hive-122221/@hivebuzz/pum-202304-result">Hive Power Up Month Challenge - April 2023 Winners List</a></td></tr><tr><td><a href="/hive-122221/@hivebuzz/pum-202305"><img src="https://images.hive.blog/64x128/https://i.imgur.com/M9RD8KS.png"></a></td><td><a href="/hive-122221/@hivebuzz/pum-202305">Be ready for the May edition of the Hive Power Up Month!</a></td></tr><tr><td><a href="/hive-122221/@hivebuzz/pud-202305"><img src="https://images.hive.blog/64x128/https://i.imgur.com/805FIIt.jpg"></a></td><td><a href="/hive-122221/@hivebuzz/pud-202305">Hive Power Up Day - May 1st 2023</a></td></tr><tr><td><a href="/hive-139531/@hivebuzz/proposal-2324"><img src="https://images.hive.blog/64x128/https://i.imgur.com/RNIZ1N6.png"></a></td><td><a href="/hive-139531/@hivebuzz/proposal-2324">The Hive Gamification Proposal</a></td></tr></table>
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@rtonline ·
Thanks, I love this badge :)
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@hivebuzz ·
Kudos @rtonline! Your commitment to Hive growth is admirable.<div><a href="https://engage.hivechain.app">![](https://i.imgur.com/XsrNmcl.png)</a></div>
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