Following a six-week low, Bitcoin (BTC) and conventional markets both rebounded on Thursday. Over the last two weeks, BTC has been in a decline as traders wait for a definitive move over or below the $38,000 price barrier. 

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Alternative cryptos (altcoins) have been in and out of popularity during the last month, suggesting market players’ unease.

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The majority of analysts think that bitcoin will have a violent price movement, but the direction is yet unknown. Some signs hint at a possible collapse, while others point to a price comeback in the immediate term.

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The options market now predicts that BTC will trade over $36,000 in May with a 60% likelihood.

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The average daily basis, or the gap between the spot and futures price in the bitcoin futures market, has hit a one-year low. A rising basis usually suggests that futures traders are bullish.

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Bitcoin fear and greed index on Thursday, April 28, 2022, went from the extreme fear level of 21 to the level of 24 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.     

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Bitcoin is currently trading at $39,320.86, up 2.28%. In the last 24 hours, the highest it touched was $39,600.12  and the lowest was $38,555.90. Bitcoin has a current market cap of $748,131,992,041. It has a circulating supply of 19,024,431.00 BTC coins and a maximum supply of 21,000,000 coins.

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India to take a considered view on crypto: Indian Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on April 27 said that India will take a considerate decision on regulation around the virtual currency. During an interaction at Stanford University, she said, “The decision on crypto will not be rushed through,” “It will have to take its time…all of us to be sure that at least with a given available information, we’re taking the decern decision. It can’t be rushed through,” she said. The minister clarified that the government is open to promoting innovation and well-grounded progress made in the distributed ledger technologies, which are coming in the blockchain. “So, our intention is in no way to hurt this (innovation around crypto)…but (we need to) define for ourselves…,” she said. So, these are some of the concerns, not just India, but many countries of the world have and are also discussed in global, multilateral platforms, she added.