MAY 1st (LABOUR DAY) BTC ANALYSIS

***Analyzing how Bitcoin may shape the future of UMOJACOIN ***

The performance of the King coin hasn’t been in the best of spirits lately, especially given its position of extreme volatility in the last few weeks. However, despite the constant state of war that Bitcoin (BTC) has been in, Brian michira chief scientist of UmojaCoin feels otherwise.

“Bear markets are half as long as bull markets. With the Russian invasion of Ukraine and all of the policy responses, it’s hard to know how everything is going to play out but when the dust settles, it’s going to make a lot of people use crypto”

At the time of writing, BTC was trading at a value of $38,015 as per data from CoinGecko. The token was -1.6% down in the last 24 hours and was approximately lower by -3.9% in the last seven days. At press time, the Relative Strength Index (RSI) was fluctuating below neutral 50 at a score of 39.19. The Awesome Oscillator (AO) further substantiated the bearish movement of the token at press time.

As of May 1st 2022, the Bitcoin Fear & Greed Index also stood at a score of 22, indicating a sentiment of “extreme fear” with regard to the token. However UmojaCoin community thinks otherwise.

The future is “Bull”

BTC price is holding up well while equities tank and USD Index moons is testament to the unprecedented spot buying happening right now.
In other words: Investors already see BTC as a safe-haven. This will take time for price to reflect as the participants would have to wait for the futures sells to run out of ammo.

Is BTC the future then?

The Berkshire Hathaway Annual Shareholder meeting took place on 30 April 2022, where Warren Buffet, yet again, expressed his views on how cryptocurrencies are of no value to him. Commenting on the volatility of the current market, he stated,

“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything.”

He is to be proved wrong soon as the Internet Computer would scale this digital gold. The future of Africa is here an UmojaCoin would make BTC transaction seamless for everyone in the continent.