$75,000 increase or $5,000?
What can we expect from the bitcoin price prediction these days and in the near future?
There will be a great increase in the price of Bitcoin if its rate exceeds the resistance points at USD 9,200 and USD 14,200, said trader and analyst @nebraskangooner. Otherwise, the value of the cryptocurrency will enter a phase of long-term decline, according to his price prediction.
Bitcoin can reach USD 75,000, wrote on his Twitter account the trader and founder of Level Invest, Nebraskan Gooner. He came to this conclusion based on the previous fluctuations in the rate of the first cryptocurrency.
The expert noted that every time bitcoin price prediction on the weekly chart turned out to be higher than the Fibonacci correction level of 0.65, the value of the currency entered a phase of parabolic growth. Gooner is sure that a recovery will begin in the price of this asset if it rises above $14,200.
Michael van de Poppe, an analyst at the Amsterdam Stock Exchange, suggested a more modest scenario. In his column in Cointelegraph, he wrote that Bitcoin may increase its price to USD 10,000. And then to USD 11,000 if its rate rises above the $ 9,200 resistance line. As another obstacle to the growth in the value of the first cryptocurrency, Poppe mentioned two levels of Fibonacci correction, which correspond to the USD 9340 and USD 9900 levels.
Price of Bitcoin – reduction
The bitcoin price prediction reduction scenario was led by John Rager, analyst and founder of the Bloсkroots trading service. According to him, in the near future, the currency may become cheaper at the support level of USD 8000-8200. However, if the rate of this asset falls below USD 7,700, it will enter a phase of long-term decline.
Founder of Signal Profits, Jacob Kenfield, expressed confidence in the collapse of the bitcoin price prediction exchange rate. In his opinion, this cryptocurrency began to become cheaper when it encountered resistance at the USD 9000-9200 level, where the 200-day moving average is located. Because of this, the expert predicted that the price of each token can first fall to USD 7000, and in July to USD 5000.
At the moment, Bitcoin is trading at USD 8,620, and in 24 hours it fell by 0.6%. The daily trading volume of the currency decreased by 22% and reached USD 25.3 billion.
On January 20, The Ranger also predicted an increase in the value of Bitcoin to USD 75,000. As an argument, it cited changes in the return on investment rate in BTC. And that could hinder its recovery, said Coindesk analyst Omkar Godbowl.
– Poppe suggested that the Bitcoin exchange rate would rush to USD 18,000
– Blockstream chief Adam Back said the increase in the price of Bitcoin to USD 100,000 is more real than it seems
– Fundstrat analysts predicted an increase in the price of Bitcoin in 2020 by at least 100%
Read more about Bitcoin price and volatility right here: https://en.wikipedia.org/wiki/Bitcoin#Price_and_volatility