Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝