💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
Pi Coin Shows Signs of Potential Recovery
Pi Coin is showing signs of a potential recovery as it trades around $0.62, marking a 7% rise. This comes after a period of decline where it fell from a high near $3 in February. While the overall cryptocurrency market sentiment is improving, Pi Coin's rise is still limited by the absence of key catalysts.
Upcoming Events and Analyst Predictions
Analysts are cautiously optimistic about Pi Coin's future. Dr. Altcoin suggests that the price could rise to $1.70 by mid-May, driven by upcoming events like the Consensus Summit. Pi Network co-founder Nicolas Kokkalis is expected to speak at this event, which could provide more clarity on the project's vision and potential exchange listings.
Technical Analysis and Market Sentiment
Technical indicators show some improvement, with the RSI steadily rising from its April lows. However, the price is currently stuck between bullish and bearish trends. A break above $0.75-0.78 could lead to further gains, while a drop below $0.55 might signal a bearish trend.
Factors Influencing Pi Coin's Price
The price of Pi Coin is influenced by several factors, including market dynamics, technological advancements within the Pi Network ecosystem, and the regulatory environment. Positive developments, such as new updates and exchange listings, can boost investor confidence.