![\"\"](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2022\/06\/Bitcoin-50-day.jpg\")
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Bitcoin advanced, rising beyond the $30,000 level after languishing at the weekend.<\/p>\n
The largest cryptocurrency gained 2.1% to $30,559 as of 9:29 a.m. in Singapore on Monday.<\/p>\n
Other cryptocurrencies also rose, with Ether rising 2.4% and Polygon advancing 3.4%.<\/p>\n
\u201cBitcoin has stabilized over the past few weeks on improved short-term momentum,\u201d Katie Stockton, co-founder of Fairlead Strategies, wrote in a note Friday.<\/p>\n
She said a short-term counter-trend buying signal was logged by Tom DeMark\u2019s TD Sequential model, which is employed by technical analysts to spot trends, \u201cincreasing the probability of a more pronounced oversold bounce. We assume the 50-day moving average will provide resistance.\u201d<\/p>\n
Bitcoin and the rest of the cryptocurrency complex has struggled in recent months as the Federal Reserve hikes interest rates and risky assets like tech stocks have fallen back.<\/p>\n
The collapse of the Terra\/Luna ecosystem further undermined confidence in the space.<\/p>\n
Bitcoin has been stuck around the $30,000 level for weeks now, defying predictions of a potential further decline but also struggling to gain upward momentum.<\/p>\n
Bitcoin advanced, rising beyond the $30,000 level after languishing at the weekend.<\/p>\n","protected":false},"author":341034,"featured_media":447328,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,43338,78350,75250,78346,23911],"class_list":["post-447322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-ether","tag-luna","tag-polygon","tag-terra","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/447322"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=447322"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/447322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/447328"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=447322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=447322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=447322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a><\/p>\n
\nNow read: South African crypto mogul \u201cFluffypony\u201d faces 378 counts of fraud, forgery, and uttering<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"