BTC Remains above $28K in Price

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Bitcoin Anticipates a Probable Upswing as BTC Remains above $28K in Price – March 30, 2023

Today, BTC/USD rises to a high of $29,171 but remains above $28K in price. Buyers were unable to keep the pace going up past the $29,000 high. The Bitcoin price is under pressure to fall because of a shortage of customers at higher price levels. Bitcoin is now trading in the prior range-bound range of $26,500 to $28,500. The range-bound movement might continue in anticipation of a bullish trend.

Bitcoin Price Statistics Data:•Bitcoin price now – $28,097.60•Bitcoin market cap – $543,241,845,164•Bitcoin circulating supply – 19,332,656 BTC•Bitcoin total supply – $590,073,473,791•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

The price of Bitcoin (BTC) is rising after rallying to a high of $29,171 before being repulsed. The biggest cryptocurrency has returned to its original range-bound region as a result of the most recent rejection. Since March 19, the $29,000 ceiling has been blocking Bitcoin from rising. In the interim, the price of Bitcoin has ranged between $26,500 and $28,500. Bitcoin is worth $28,355 at the time of writing. If the decline continues, the price of Bitcoin will trade in a narrow range for a few more days. Yet, if selling pressure eases, buyers will rise over the $28,000 support. The rise will begin after it crosses the existing support. A recovery above the psychological price level of $30,000 is likely if the bullish trend keeps going. As long as the price of BTC is higher than the moving average lines, the existing support will continue to hold on the downside.

The Supreme Court of Denmark Rules That Bitcoin Earnings Are Taxable

The nation’s top court handed down two rulings in situations where various cryptocurrency users profited from the sales of BTC that were “manufactured to speculate” and mining. The Supreme Court of Denmark’s justices has ruled twice on the issue of whether the sale of Bitcoin falls under the definition of a taxable event in specific situations. According to the judgment, “The Supreme Court decides that the received Bitcoins must be considered assets obtained with the intention of eventual resale as an integrated part of [the first party company]’s with the development and operation of software for Bitcoins.” “They cannot be regarded as having been transferred to [their] private property or assets at the moment of sale. The Supreme Court concludes that the return of the Bitcoins received amounted to revenue in [their] non-commercial endeavors based on this information. Tax duty is consequently triggered by sales.

BTC/USD – 1 Hour Chart

Meanwhile, Bitcoin is declining to the range-bound zone but remains above $28K in price. In the past, the price of Bitcoin has changed within a limited range in anticipation of a favorable trend. Buyers have recently tried in vain to overcome the resistance levels. On the other side, the bulls are successful in maintaining the bull market by successfully defending the current support at $26,500.

Bitcoin Alternatives

The price of Bitcoin has dropped to the range-bound area after a week of price battle over the barrier above $29,000. In anticipation of a probable upswing, the price of Bitcoin has reversed to the range-bound area. When the $29,000 barrier is broken, Bitcoin will soar to its record high of $31,000. If the outcome is positive, it will force other cryptocurrencies and tokens to accelerate their upward trend. The latest developments in Bitcoin have generated media attention for LHINU tokens. The presale is still going on while investors consider their options. You’re lucky if you have a lot of Love Hate Inu (LHINU) tokens because it makes your pals envious. You will receive rewards for keeping and staking LHINU tokens, which is just enough to make you feel happy. The options are limitless (staking, polls, free crypto, and rewards). During the presale, around $2.5 million has already been raised.

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