Altcoins pump while traders anticipate a lower support test from Bitcoin
Cointelegraph
Published Jul 29, 2021 01:39PM ET
Updated Jul 29, 2021 03:20PM ET
Bitcoin (BTC) bulls are locked in a battle with bears in order to take control of the $40,000 level and dovish comments from U.S. Federal Reserve Chair Jerome Powell suggest that loose monetary policies will remain in place for the foreseeable future.
Generally, the crypto ecosystem is “cautiously optimistic” about further price rises as the fallout from China’s miner purge begins to subside and displaced miners begin to establish mining operations in other countries, resulting in a rebound of the Bitcoin hash rate.
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Written By: Cointelegraph
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