The prices of Bitcoin (BTC) and Ethereum (ETH) have significantly risen in recent days, regaining over 5% of their worth. Both cryptocurrency investors and aficionados have welcomed this price fluctuation because the market has been trending downward over the past few weeks.
Although the recovery is encouraging, everyone is wondering what the weekend may bring. Will the recovery surge last or will the trend turn around?
In this article, we’ll evaluate the recent price changes of BTC and ETH and assess the variables that might have an impact on those prices over the weekend.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 24,608.70 |
Bitcoin Price Prediction
Bitcoin is currently trading at $24,600, with a $38 billion 24-hour trading volume and a 3% gain in the last 24 hours.
The 50% Fibonacci retracement level of $23,325 served as resistance for Bitcoin before it recovered and began to rise. A purchasing trend in Bitcoin was sparked by the most recent candle closing above this level, which added to the positive market attitude.
Going ahead, $25,300 represents the next hurdle for Bitcoin. The BTC price might rise to $26,000 if a bullish crossover takes place over this point.
The probability of a long-lasting rising trend in Bitcoin is increased by the 50-day moving average. Investors may think about keeping an eye on the $24,250 level as a potential entry point to buy a long position in Bitcoin in order to profit from this trend.
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