cryptocoin.com As we have reported, 6 crypto money analysts, who are closely followed by the crypto money market, announced the critical levels for the leading cryptocurrency Bitcoin (BTC)! Here is the opinion of the experts…
$ 40 thousand BTC prediction from Galaxy Digital Holding CEO!
According to a Bloomberg report, Mike Novogratz, a crypto investor and founder of Galaxy Digital Holdings, predicts that Bitcoin could hit $40,000 as the Fed moves towards lowering rate hikes. In a Bloomberg Television interview on Wednesday, Novogratz made predictions about BTC price increases. Novogratz describes the transactions that will generate the “netest” profits as long-term Gold, Euro, Bitcoin and Ethereum transactions, all of which should profit from the Fed’s anticipated policy changes.
According to the famous CEO, BTC rose to the level of $ 30 thousand this week for the first time since June 2022 and recorded a significant increase. Novogratz expects Bitcoin to consolidate at these levels before heading to the $40,000 levels, as long as the Fed takes decisions as expected. Rather, he predicts stocks will continue to be “range-bound” this year, pointing out that they are neither affordable nor very attractive to investors due to their high prices. That said, Novogratz also noted that Hong Kong, Abu Dhabi, and Dubai are pushing for crypto-friendly regulations, while the U.S. Securities and Exchange Commission is targeting the crackdown on cryptocurrencies.
BTC can go up to $ 190 thousand!
After Bitcoin (BTC) finally managed to break through the psychological barrier of $30,000, some cryptocurrency analysts are predicting further gains for the leading cryptocurrency, due to historical chart patterns that show it has completed all the necessary prerequisites to start a massive bullish rally.
Indeed, according to a forecast shared on Twitter by crypto analyst BitQuant on April 13, Bitcoin “before going to the Moon”, i.e., as it completed its final pullback towards $190,000, the new low before its all-time high (ATH) was 29,000 – 30,000. expected to be in the dollar zone.
A day ago, the crypto market analyst published a slightly different assessment, arguing that Bitcoin price typically goes through two retests after breaking the 10-week EMA (exponential moving average). In the same tweet, BitQuant also stated that “in this particular cycle, we are still waiting for the final retest before the price skyrockets to $190,000.” This previous forecast is based on BTC’s observed activity in 2020 and 2021; It did indeed follow the 10-week EMA and the bottom with two retests, after which the price finally rallied towards the $69,000 ATH it reached in November 2021.
If these forecasts released by analysts come true, it means that there are no more hurdles for Bitcoin to start moving towards $190,000, which the analyst expects to happen in 2024.
Analysts pointed to important metrics for BTC price!
According to cryptocurrency analyst Sahana Vibhute, it would not be wrong to say that with the recent rise, the price of Bitcoin has overcome the downward pressure. The price surpassed $30,000 and was able to sustain itself despite the bearish actions that continue to prevail in the markets. However, it doesn’t look like the price could enter a steep downtrend and the bears seem to be preparing hard to push prices further.
On the charts, BTC price has formed a bullish flag pattern and is therefore looking for a significant push to make a breakout. Meanwhile, the RSI has suffered a minor pullback as it continues to hover across the resistance levels. As long as the RSI stays at these levels, analysts expect the price to trade within the flag and a small push could force the price to break out of consolidation and move higher. Also, BTC CVD, or cumulative volume delta, which measures liquid volume inflow for an asset, exhibits a differential movement between spot and continuous. According to data from Skew, spot buyers in the market continue to reduce the spot supply, while permanent buyers continue to short BTC with each bounce.
This opens up the possibility of a clean and violent breakout only if the spot above $30,400 is strongly accepted. Therefore, the next few hours seem crucial for Bitcoin (BTC) price as it is constantly consolidating just below these key levels and aiming to clear these levels as soon as possible.
Cryptocurrency analyst Ali Martinez points to the increasing number of BTC wallets!
Some market analysts have mixed views on the next levels of the leading cryptocurrency. Some predict the uptrend will continue, while others warn against potential pullbacks. The positive mood surrounding the lower-than-expected CPI and PPI data has provided impressive stability in the Bitcoin price chart in recent days. In a recent tweet, crypto analyst Martinez observed that the number of newly created Bitcoin wallets on the network has reached approximately 512,000. According to Martinez, this increase indicates more user adoption of BTC and could potentially lead to a price spike as it represents increased demand for the leading cryptocurrency.
Bitcoin price recently corrected to the downside from the $30,595 zone and BTC settled below the $30,000 support level. The cryptocurrency also settled below the 23.6 percent Fib retracement level of the upside wave that ranged from the $27,900 swing low to the $30,595 high. However, the bulls managed to hold tight near the $29,630 zone, preventing further declines. In addition, in March 2023, the US CPI recorded another decline to 5 percent. These economic data provided support for BTC, helping it maintain a positive stance above the $29,650 level. All in all, the cryptocurrency remains in a positive position with bulls actively defending key support zones.
Instantly, BTC gained 2% in the 24-hour period and is trading at $ 30,400. BTC price is currently hovering above the EMA-20 trendline, in a critical scenario. Analyzing the hourly price chart, with the bulls succeeding to break the $30,500 barrier, the $31k-32k resistance zone could be surpassed. With the macro news, the bullish momentum can go up to 36 thousand dollars. However, if it does not get enough support, BTC can be traded at $ 29.5 thousand.
Critical BTC comment from Benjamin Cowen!
Benjamin Cowen, one of the well-known analysts of the crypto money market, claims that with the rise of BTC’s dominance level, it will lead the rest of the market and says that altcoin prices fluctuate depending on the movement of Bitcoin. Here are the analyst’s words:
We’ve seen BTC/USD go up for a while, we’ve seen the rest of the market go up a little beyond that time and again. But if Bitcoin starts to turn the other way, it will pull everything down with it. Remember that Bitcoin drives the bus!
According to the popular analyst, Bitcoin will lead the rise of the rest of the crypto market over the next few years, even if some altcoins stagnate during the next bull cycle. According to Cowen, Bitcoin is dominating the market and altcoins will follow suit. According to Cowen’s analysis, although altcoins are rising in the bull market, they are not driving the bus. According to the analyst, altcoins will only become “passengers of the bus.” Here are the words of the analyst:
Some altcoins you really like in 2024, 2025 are likely to miss the next bus. But guess who will use the bus? Guess who is driving the bus right now? Guess who will drive the bus in 2024 and 2025 and so on? bitcoin. His bus uses Bitcoin, everything else is bus passengers.
Cowen also says that going forward, Bitcoin’s dominance level will rise:
When you look at Bitcoin (BTC) dominance, we’re sitting just under 49 percent right now… Now that we find ourselves in the highest range, I know some people are getting nervous. However, I still argue that the dominance level will soon be broken. I do not think that there is a situation that will reduce the dominance to lower levels.
Critical BTC price prediction from InvestAnswers server!
Another cryptocurrency analyst, the anonymous host of InvestAnswers, thinks in a new YouTube video that historical patterns suggest that Bitcoin (BTC) may be on the verge of a major breakout. The host tells his 443,000 YouTube subscribers that Bitcoin’s current cycle is most similar to its 2017 peak cycle.
I think we’re most like the 2017 cycle, which means we could be in the middle of a massive hack that could get us $50,000 if history repeats itself. Remember, then it takes a breath, then it goes down the hill again for a month or two, three/four months, then it goes up again.
The analyst also examines another K33 chart that examines the number of days since the cycle bottoms in 2018 and 2022.
See chart. See what can happen next if this cycle repeats. This means that the next 60-70 days, the next 2-2.5 months could be astounding. That’s the message here. And when we look at Bitcoin, if we look at the chart, if we look at any drop, it’s being swallowed up by someone, somewhere.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.