Bitcoin Price Analysis

Bitcoin price analysis; Everyone expects the bitcoin price floor to be $ 46,000


After the collapse of the digital currency market on Friday and the breaking of key support areas, many investors now hope that $ 46,000 will be the bottom price of Bitcoin. Meanwhile, some analysts report bitcoin at $ 32,000.

to the the report Bitcoin Telegraph, the price of Bitcoin on Friday reached its lowest price since March. The main question is what will be the price trend of Bitcoin in the future? In the following, we will refer to the different opinions of experts regarding the price of Bitcoin.

Peter Brent is looking to buy bitcoin at $ 32,510

The fall in the price of bitcoin has alarmed many new investors. More experienced investors, meanwhile, are vying with each other to see which prediction will be closer to reality, which one can buy bitcoin at a better price.

With the price of Bitcoin falling from $ 53,000 to $ 50,000, short-term bearish signs showed one after another.

Peter Brent, a well-known Bitcoin market analyst who has made accurate predictions about the trend of this digital currency in the past, has stated in his new forecast that there is still a lot of opportunity to buy on the floor. He announced in his forecast that he intends to buy Bitcoin for $ 32,510.

It should not be forgotten that Brent, like many market analysts, has a very upward view of Bitcoin in the long run. Following his prediction, the Dilution-proof Twitter account announced in its forecast that the $ 46,000 area would be the stopping point for the fall in the price of Bitcoin.

Investor orders and Bitcoin whales, on the one hand, and Fibonacci correction levels, on the other, indicate that there is a possibility of more vendor activity and more downward pressure on the market.

Philip Swift of DecenTrader wrote in his analysis on Friday:

Earlier, I saw a large volume of in-chain purchases in the range of $ 47,000 to $ 49,000. I expect this area to act as a strong support if prices fall.

He further wrote:

In addition, we continue to see a sharp increase in the number of Bitcoin blockchain users, which is an upward signal; Hence, despite this week [میلادی] There was a lot of fear on social media, I don’t think there is any need to worry or worry about the current price of Bitcoin.

Digital Currency Exchange

Glassnood data show that 24 hours before the fall in the price of bitcoin, we saw a large volume of deposits in exchange offices. This amount was even higher than the deposits before the fall of March 2020.

Twitter analyst Rekt Capital described the recent crash as a “normal one” that characterizes all bullish markets.

In another part of his speech, the analyst said that the correction of the second quarter of this year occurred about 80 days after the abortion at the end of the first quarter of $ 42,000; This is similar to what we saw in the 2017 uptrend.

Bitcoin price chart
Bitcoin price chart

Status of Altcoins

As the price of bitcoin plummeted, the coin market also turned red; Swift, meanwhile, believes the crash is temporary.

Altcoins are now on the radar of investors who think bitcoin is “too expensive”. “Swift says:

Given the influx of new capital into the market and the approach that bitcoins are too expensive, I expect capital to flow to the coins.

He added:

At this time, as bitcoins outgrow bitcoin growth, bitcoin dominance may diminish.

.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button