The cryptocurrency markets have been volatile in recent weeks, with the price of Bitcoin dropping significantly. The latest US non-farm payrolls report, which revealed stronger-than-anticipated job growth, has been mainly blamed for this. As a result, the market’s mood has changed to one of bearishness, and investors are now speculating as to how low the price of Bitcoin could go.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 23,434.15 |
Bitcoin Price Prediction
Bitcoin (BTC) is now valued at $23,300 and has a $25 billion 24-hour trading volume. It is now ranked first on CoinMarketCap and has a market value of more over $449 billion. The total amount of BTC coins is 21 million, with 19.28 million currently in use.
The immediate support level for bitcoin, which is now going lower, is $23,300. If this level is broken, there may be additional losses to $23,000, which may serve as a point of support and is identified by a rising trendline.
The RSI and MACD indicators suggest that there may be more selling pressure, which would drive the price of bitcoin lower until it reaches the next support level of $22,750.
We might soon witness a resurgence because the 50-day exponential moving average for Bitcoin/USD is currently showing a positive trend above $23,300. The price may rise toward $24,500 if it breaks out above $23,950 on the upside.
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