Bitcoin Price Forecast: Will BTC Surge Above $30K as US Nonfarm Payrolls Awaited?
Bitcoin enthusiasts are eagerly anticipating the release of the US nonfarm payrolls data, which may provide clues on the future direction of the cryptocurrency.
With Bitcoin currently hovering below the $30K mark, market participants are speculating whether the upcoming data could trigger a surge that pushes BTC above the crucial $30K threshold.
In this Bitcoin price prediction, we'll delve into the factors that may influence BTC's movement as the market awaits the nonfarm payrolls report.
The price of Bitcoin and other popular cryptocurrencies has increased in the past 24 hours, with BTC soaring by +1.40% and nearing the $30,000 milestone.
Reports suggest that this uptick comes amid rising market tension, fueled by concerns surrounding banks. PacWest Bancorp has been under scrutiny, thanks to broader worries about regional banks in the US, particularly following the recent collapse of three similar institutions in California.
Crypto enthusiasts argue that this decline in confidence for traditional fiat currencies might play a part in Bitcoin's growing appeal.
The latest shift in BTC's price occurred right after market rumors swirled, hinting that another US bank failure might be imminent.
Matrixport, a cryptocurrency services firm, predicts that Bitcoin could see a 20% surge, reaching $36,000, if Thursday's interest rate hike signals the end of the current cycle.
Bitcoin spent most of Thursday quietly hovering around $29,000, where it has remained for the majority of the past ten days.
Investors were focusing on interest rate hikes by the US and European central banks and the latest failures in an escalating banking crisis.
In April 2023, the US economy is predicted to add 180,000 jobs, marking the smallest increase since
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