However, due to the nuclear tension between Ukraine-Russia, Bitcoin price may form a low at $57,027 with an average of $65,997. However, much like the previous bull run during the Bitcoin halving, the BTC price will create a new high at $74,967. Moreover, the Bitcoin miner’s block reward will be halved to 3.125 BTC per new block. Bitcoin Price Prediction 2023 – 2030 Price PredictionĪlso Read : Bitcoin Price Prediction: Will BTC Price Hit $40K By Mid August? BTC Price Prediction For 2024Īfter the fourth halving, 96.875% of the Bitcoin will be mined. Such a bearish scenario would likely lead to a test of the underlying bullish stronghold at crucial support levels of $28,500 and $27,767. In such a case, the ensuing momentum could propel Bitcoin’s price to a target of $31,474.Ĭonversely, sustained selling pressure that breaks $29,000 support could trigger a decline in Bitcoin’s market valuation. On the bullish front, a reversal could challenge the consolidation range’s upper bounds and the prevailing bearish control at $29,800. This pattern indicates a potential bullish pivot in the Bitcoin market, contingent on the price above the critical $29,000 threshold. The BTC price trend forms four successive doji candles at the consolidation’s lower boundary in the daily chart. This formation effectively constrains bullish momentum to attack the overhead resistance trendline and the 200 EMA. Meanwhile, the 50 EMA keeps the bullish uprising in check. In the 4-hour chart, Bitcoin’s (BTC) price action consolidates between $29,000 and $29,800. Bitcoin Price Prediction for August 2023 Trading View However, in case of a support trendline fallout, the Bitcoin market value will plunge to $25,401. In short, any improvement in social sentiments as the strong support trendline comes into action can help BTC price reach $35,000 by the end of 2023. It makes the range a crucial support level and helps as a cushion and a launchpad. Investors above $26K should be able to absorb any more sudden selling spikes. On the other hand, 29.13% are in the red zone, with 3.03% of holders at the neutral level. The RSI line supports the prolonged uptrend theory with the bullish divergence in the current price range.Īdditionally, on-chain analysis shows that 67.84% of Bitcoin holders are profiting from the current market price. Moreover, the intraday trading volume maintains a descending trend projecting weakness in the bear phase. However, the Bitcoin price action forms a falling channel pattern as it approaches the long-coming support trendline. The price of Bitcoin is currently reversing from the $30,000 barrier after encountering significant supply pressure, which led to a breakout from the range. The Bitcoin recovery rally also forms an ascending support trendline. Maintaining an uptrend from January 2023, BTC price continues to create higher low formation. Potentially, the Bitcoin (BTC) price create a new all-time high of more than $300,000 by 2030. Read until the end to understand the big moves coming in Bitcoin.Ĭontinuing a bullish journey in the upcoming years, the Bitcoin market price is bound to exceed the $100,000 mark. We bring a detailed Bitcoin price prediction for 2023-2030 to remove all the confusion around this. Meanwhile, analysts predict Bitcoin to reach the target of $100,000 before the halving. Many are searching for a Bitcoin buying spot under $30K before the upcoming Bitcoin halving event. It begs the question, “Will Bitcoin Go Up?” Making a new higher high in the weekly chart, BTC price enters a correction phase reverting to the support trendline.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |