In recent hours we have witnessed a slight price recovery in the cryptocurrency market, in the case of Bitcoin this time managed to overcome again the $ 27,000, and although somehow this generates some tranquility uncertainty is quite high.

When I say that despite the recent Bitcoin price rebound, it is possible that a deeper correction may occur, I express it that way because there is evidence of a weakening in this area, so the possibility that the price breaks down is the most likely option.

However, beyond the weakening shown by the Bitcoin price action in the $27,000 zone, according to statements by Bank of America executives, they have stated that the days of the cryptocurrency rebound are numbered.

In this sense, and according to information published in the "Bolsamania" portal, Bank of America's executives believe that the upward rally that cryptocurrencies have developed in these five months of the year 2023 has its days numbered and the upward path is "limited" in the short term.

In the aforementioned article, it was learned that "low conviction, limited catalysts and outperformance so far this year leave the digital asset sector stuck in a narrow trading range with a challenging macro backdrop likely to limit the upside of digital assets."

From the top of Bank of America they said they expect cryptocurrency trading volumes to remain "subdued" and for retail investors to stay on the sidelines for the duration of the complications in the macro scene, especially around the U.S. debt ceiling.

I would like to know your appreciation with what has been discussed here.

SOURCES CONSULTED

Bolsamania. Bank of America believes cryptocurrency rebound's days are numbered. Link

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