cryptocoin.com As we have reported, leading cryptocurrency analysts have announced critical levels for the leading cryptocurrency Bitcoin (BTC)! Here are the details…
According to this analyst, Bitcoin will do well as long as support is maintained!
Crypto analyst TARA (@PrecisionTrade3) tweeted yesterday that Bitcoin (BTC) price is holding a key support level around $30,130. According to the analyst’s tweet, the price of BTC will be “fine” as long as the set support level is maintained. The analyst added that at the time of the tweet, there was a very strong selling volume driving the price of BTC down. Momentarily, the $30,130 support level appears to have held in the past 24 hours as CoinMarketCap shows that the price of BTC is currently trading at $30,455.80. However, the market leader’s price has dropped 0.96 percent in the past 24 hours. Not only did BTC suffer a 24-hour loss, but its dominance in the market has also decreased somewhat. As a result, BTC’s market dominance is estimated to be around 46.23%, which is 0.20% lower than yesterday.
BTC price continues to gain support from the 9-day and 20-day EMA lines as per press time. However, traders may want to pay attention to the ascending wedge formation forming on the daily chart of the coin. This pattern indicates that the price of BTC will decline in the next 24-48 hours, especially as the price of BTC approaches the top of the pattern. The market leader’s price managed to break out of this bearish pattern yesterday, but closed the day’s trading session inside the chart pattern. If the price of BTC fails to close a one-day trading session above this formation in the next 48 hours, the crypto price will likely drop to $28,850 next week.
Bitcoin can rally to the levels of 60-70 thousand dollars!
According to an analyst known as “Alan”, Bitcoin is undergoing a significant shift describing its current transaction levels as “platform I” and “platform II”. Currently, Bitcoin is transitioning from the first platform, which costs between $30,000 and $40,000, to the second platform, which costs between $60,000 and $70,000. The MACD indicator, also known as the D3 chart, is a widely used technical analysis tool to identify long-term trends in the market. This type of chart relies on a longer time frame to analyze market trends; For analyst Alan, this bullish signal based on the MACD bullish cross on the D3 chart triggered a new bull run for Bitcoin, showing that the cryptocurrency could be on its way to new highs.
Moreover, Adam Back, CEO of Blockstream, a blockchain technology company, recently stated that the price of Bitcoin increased significantly in the first quarter of 2023. From December 31, 2022 to March 31, 2023, the price of Bitcoin increased by about 70 percent, from $ 16.6 thousand to $ 28 thousand. Going back, if this growth rate continues, Bitcoin’s price could reach $48k in June, $82k in September, and a staggering $14k in December. However, if the target is to reach a price of $100,000 by the end of the year, the growth rate will need to decrease from 70 percent to 53 percent for the second, third and fourth quarters of the year. This represents a more moderate growth rate but is still important for Bitcoin.
Mike Novogratz trusts Bitcoin!
In a recent interview with Bloomberg Television on Wednesday, Novogratz made predictions about BTC price increases. According to him, the “clearest” transactions are defined as long positions Gold, Euro, Bitcoin and Ethereum transactions, all of which can profit from the Fed’s anticipated policy changes.
On the other hand, he evaluated the fact that Bitcoin reached the price level of $ 30,000 for the first time since June 2022 this week, as an important development. Novogratz expects Bitcoin to consolidate here before heading towards $40,000 as the Fed moves as expected. Rather, he predicts the shares will continue to be “in range” this year, indicating that they are neither affordable nor highly attractive to investors due to their high price. Novogratz also noted that Hong Kong, Abu Dhabi and Dubai are pushing for crypto-friendly regulations, while the US Securities and Exchange Commission is targeting the crypto industry.
Can BTC price see the $ 190 thousand levels?
After the price of the leading cryptocurrency Bitcoin (BTC) broke the $30,000 mark earlier this month, some cryptocurrency analysts began to expect further bullishness, pointing to a historical chart pattern that indicates BTC will skyrocket in the near future. According to crypto analyst BitQuant, Bitcoin completed its final pullback before “going to the moon” and skyrocketing towards $190,000, and new ground is expected to be in the $29,000 – $30,000 range before hitting its all-time high (ATH).
As seen from the previously reported data, the cryptocurrency market analyst took a slightly different view, suggesting that Bitcoin price typically experiences two retests after breaking the 10-week exponential moving average (EMA). BitQuant also said in the same tweet that “in this cycle, we are still waiting for the final retest before the price jumps to $190,000.” According to the analyst’s latest forecast, Bitcoin will face no additional hurdles in its rise to $190,000, a milestone he believes will be reached in 2024.
Bitcoin’s limited supply could take it to the ‘moon’!
It is noteworthy that some analysts are more optimistic. Larry Lepard, managing partner of Boston-based investment management firm Equity Management Associates, predicted that the end of the dollar era could be the beginning of Bitcoin’s golden age, CryptoGlobe reported.
His prediction predicts the collapse of the US dollar in the next ten years and that BTC will receive a massive price increase from it. Lepard stated that as people become more aware of the depreciation of the dollar, they will turn to assets such as Bitcoin, gold and real estate. He noted one important advantage Bitcoin has over gold: its limited supply of 21 million cryptocurrencies. According to Lepard, this scarcity will be at the center of Bitcoin’s long-term price increase. Explaining this point, Lepard said, “If Bitcoin reaches $100,000 tomorrow, no more Bitcoins will be created.” As more people embrace Bitcoin as a wealth preservation tool, Lepard predicts the cryptocurrency’s price will continue to rise, potentially reaching milestones of $100,000, then $1 million, and eventually $10 million per coin.
The 14-digit forecast for Bitcoin drew attention!
Macro guru and fund manager Dan Tapiero voices his bullish sentiment on Bitcoin (BTC), with the prediction that the market cap of the leading crypto asset could reach 14 digits. In a new interview with Anthony Pompliano, Tapiero says that he predicts Bitcoin’s market cap could now reach from just under $600 billion to $10 trillion. According to the macro guru and fund manager, Bitcoin is likely to reach a price of up to half a million dollars under the current global economic conditions. The words of the expert are as follows:
I’ve been saying the same thing for a while now and I think $300,000 to $500,000 is a good solid place given the value of other assets in the world.
As for the total value of all crypto assets, Tapiero says the total market cap will increase by over 600 percent from current levels.
My original thought was that this area would reach a value of 10 trillion dollars. From that $300 billion, it has grown 30 times in 10 years. I think this will be wrong now. I think this space will probably go way over $10 trillion because it’s starting to be all-encompassing, right?
It covers everything, not just money, store of value, programmable contracts, DeFi (decentralized finance), NFTs (immutable tokens), stablecoins.
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