Bitcoin has gained popularity as a result of its availability on major exchanges, and it is drawing a large number of new investors. Because more people are purchasing and selling it, it might be challenging to estimate its price.
The CEO of ARK Investment Management, Cathie Wood, discussed the firm’s current views on bitcoin. The corporation did not anticipate the rapid use of bitcoin by businesses and governments.
The market is highly excited about Bitcoin, and surprisingly, most people are very supportive of it. Wood remains optimistic that BTC will reach $670,000 in the next five years.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 23,120.87 |
Bitcoin Price Prediction
According to a source, the price of Bitcoin was $23,293 as of Monday’s US session and has decreased by 0.50% over the last day. According to the CoinMarketCap rating, it occupies the top spot with a $15 billion 24-hour trading volume. Last but not least, it has a $449 billion market capitalization.
Bitcoin is currently trading at the $22,700 support level and has been on a recent downward trend. The price is expected to decline further if it breaches this level, and it may eventually settle at $22,400. This price is highlighted by a rising trendline and may serve as a potential support level.
The value of BTC may drop below $22,350 as its next low point if selling pressure increases, as indicated by technical analysis tools like the RSI and MACD.
The 50-day exponential moving average indicates that BTC/USD may run into resistance close to the $23,250 mark, but the trend is still bullish. It has the potential to reach $23,500 if it rises beyond $23,250. This suggests that a value increase is likely.
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