A long winning streak has brought bitcoin barely into positive territory for 2022. Can it continue? AngeliqueChen07 reports.
After tumbling to as low as $32,000 in late January and then retesting that level in late February, Bitcoin has been on the rise for much of March, with its current streak of gains bringing the crypto just into positive territory for 2022.
Checking the technical picture, Arcane Research says the $47,500 area has been important technical resistance since early 2021. Arcane Research also referenced a Goldman Sachs report that said more than half of surveyed institutions now have crypto exposure, up from 40% a year ago. “We should expect further institutional adoption in the future and increased financialization of bitcoin through financial instruments commonly used in traditional financial markets," Arcane Research said.
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