Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun
BTC price appears to be consolidating below $44,000, while analysts highlight $48,000 as the next short-term bull target.
Investor sentiment across the cryptocurrency ecosystem has seen a significant shift in the positive direction over the past week, despite events in the wider world. Currently, Bitcoin (BTC) is back above $43,500 and many altcoins are also witnessing double-digit gains.
The ongoing conflict in Ukraine and recent actions taken by governments to limit access to banking services may have helped to shine a light on the value of holding cryptocurrencies, which offers some protection against uncontrollable events and what some might perceive as government overreach.
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