Bitcoin News

What do analysts say about the current state of the Bitcoin price?


The price of Bitcoin reached $ 50,000, which caused many traders to talk about the arrival of this digital currency in the uptrend. Others, however, argue that the possibility of price corrections and resumption of support in the short term should not be overlooked.

to the Report The Bitcoin Telegraph’s bitcoin crossing of $ 50,000 that happened yesterday revived analysts’ hopes that the uptrend would continue. According to some, $ 50,000 means paving the way for $ 100,000 before the end of this year.

Market data show that this morning, the price of Bitcoin was in the range of $ 50,514, which was corrected. Bitcoin is currently trading in the $ 49,300 range.

As we said before, reaching $ 50,000 made many realize the possibility of continuing the uptrend and reaching higher prices. Traders such as Decentrader, meanwhile, say low bitcoin trading volume is a factor that makes us talk about prudent prices. According to him, this volume of transactions may be a sign of the need to revitalize buyers in lower protections.

Dissenter noted that current trading volume is not enough to cross the $ 52,000 level and is likely to fall to $ 48,000 or even lower; Because in the current situation, buyers need to rejuvenate to bring the price to higher prices.

The analyst cites $ 44,000 and $ 41,000 as support areas for traders to monitor, and says prices are likely to fall if they fall.

Another market analyst with the username Crypto_Ed (Crypto_Ed_NL) said on Twitter, referring to the possibility of Bitcoin pullback, that he is now waiting for the price to stabilize and stabilize below $ 50,000.

He went on to publish a chart in which he listed between $ 49,300 and $ 49,100 as a suitable area for people who want to take a long position.

Bitcoin price chart

Unlike many analysts, RookieXBT has a positive view of bitcoin prices. “We have to wait for the $ 75,000 bitcoin by the end of the year,” he said on Twitter, citing rising prices.

Announcing that he expects the price of Bitcoin to reach a new high before the end of this year, Rocky wrote:

While the price of Bitcoin fluctuates between $ 50,000 and $ 60,000, I think Ethereum is breaking its historic high.

According to Rocky, the Ethereum is in motion [صعودی] Initially, it did not perform very well.

Bitcoin price chart

The current market value of digital currencies is $ 2.2 trillion; With a dominance of 41.93%, Bitcoin ‌ has the largest market share.

.

Related Articles

Leave a Reply

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

Back to top button