Hodler’s Digest, May 11–17 – Cointelegraph

Hodler’s Digest: Weekly Crypto News Summary

Every Sunday, Hodler’s Digest provides a comprehensive overview of significant news events from the week in the cryptocurrency world, including notable quotes, highlights on adoption and regulation, insights on leading coins, predictions, and much more—all condensed into one accessible summary.

The much-anticipated halving event has come and gone without triggering the dramatic fallout that some in the crypto community had expected. Market analysts are now looking toward future developments. According to Cointelegraph’s Keith Wareing, Bitcoin is on the verge of breaking out of a 46-week downward trend if it can close the week above $9,200. At the time of reporting, Bitcoin was valued at $9,728, providing a solid buffer even in the event of sudden price drops. Wareing suggests that a weekly close above this threshold would be the most optimistic signal for Bitcoin since before the 2017 bull market, with the next resistance target set at $9,980 and a further goal of $11,600. Should it fail to maintain the $9,200 mark, the first support level would be $8,790, followed by $7,600. However, even in such a scenario, Wareing expresses confidence in a bullish outlook, asserting that a bearish perspective for Bitcoin is unlikely.

End of Digest