The expert predicted bitcoin surges next week

Bitcoin is likely to remain in the spotlight next week due to a combination of macroeconomic and technical factors. Vasily Girya, the owner and CEO of GIS Mining, told Izvestia about this on September 19.

"The Fed's decision to cut the rate by 25 bps has already been won back by the market, but Jerome Powell's comments set a cautious tone, so investors will closely monitor the latest statistics from the United States and news that will affect inflation in one way or another. Against this background, the crypto market remains attractive as a riskier instrument, and bitcoin remains a key benchmark," he said.

Cryptoleto: American Laws have turned the digital currency Industry upside Down

The Congress adopted three acts related to cryptocurrencies at once

Technically, BTC is held in the range of $114,000-17,800 and looks stable for profit-taking. The key resistance is in the area of $117,300-$1,17,500. A breakdown of this zone will open the way to $123,000 and above. The baseline scenario for the end of September assumes a gradual movement into the range of $119,000 -121,000 with the probability of updating the highs in October.

At the same time, the risks remain. Increased dollar liquidity, unexpected moves by the Fed, or negative news from the United States and China can quickly bring BTC back to supports around $113,000 and even $110,000. But while the macroeconomic background is moderately positive, the market tends to accumulate long positions. This increases the likelihood of continued growth.

The cost of the second most popular cryptocurrency, Ethereum, updated its historical maximum on August 25, exceeding $4,950. Experts described how this could affect the Russian market and the interest of investors. For the Russian segment, this means an increase in over-the-counter and foreign operations, as there is no full-fledged crypto exchange for a wide audience in the domestic market.

All important news is on the Izvestia channel in the MAX messenger.