The cryptocurrency and economics world is locked in the FOMC meeting. The next decision when the meeting is over bitcoin The effect on the price continues to be discussed. Here are the remarkable predictions of the experts.
Crypto analyst and YouTuber George Tung made a prediction based on Bitcoin’s stable outlook over the previous four weeks. The analyst predicts that the BTC price will rise, in addition to the expectation of a 25 basis point increase.
He noted that anti-crypto Jim Cramer had declared a bull market, which made the analyst uneasy. According to the analyst, everything predicted tends not to come true. According to Tung, if Cramer is in a bullish mood, the reality is likely to be the opposite.
According to Tung, Bitcoin will have a very positive month in February. Over the previous few years, February has been a consistently positive month for the market.
The market has many similarities to 2019. If we are at the breaking point like in 2019, that means there will be a tremendous increase soon.
tung, bitcoin priceHe claims that we are following the recovery trend in 2019, when the coin rose from under $4,000 to over $12,000. By this measure, Bitcoin’s price tends to reach $35,000 in the next six weeks.
Since the beginning of the year, BTC has continued to rise despite warnings to the contrary in various time frames. Over the past 24 hours, the price has rallied 1.2% to $23,100.
Both $23,200 and the 100 hourly simple moving average are acting as short-term resistance to price progress. The next major hurdle to buyer strength is located near the $23,300 region. This is not far from the 50% Fibonacci retracement level of the drop from the $23,951 high to $22,519 low. But all the signals continue to rise. This is also a good sign.