Bitcoin’s (BTC) price has lately risen, rising 3% from its recent low. As a result, a lot of investors are interested in the potential price of BTC in the current market.
In this post, we will examine the most recent Bitcoin price prediction and examine the variables that can possibly have an impact on the cryptocurrency’s value in the near future.
However, a number of factors, including continuous advances in the cryptocurrency industry and Bitcoin’s image as a safe-haven asset, have contributed to the upward climb in BTC.
It is important to note that recent bank failures have eroded public faith in conventional banks, which is thought to be a key factor driving up the price of Bitcoin. This is due to investors’ perception of Bitcoin as a safe asset.
This week, Bitcoin hit a record high of $28.8K, but it now trades between $26,000 and $27,000, suggesting that it has reversed course. Despite this, a lot of analysts believe that Bitcoin will most likely exceed $30k very soon.
The value of the global cryptocurrency market has been rising; it is now estimated to be $1.16 trillion, up 0.90 percent in the previous day. Bitcoin (BTC) rose to a high of $27,000 on Sunday. As a result, all cryptocurrencies’ prices, including Bitcoin, are being impacted by the recent upswing in the global cryptocurrency market.
TODAY’S BITCOIN PRICE
| Today | 01 | $ 27,773.52 |
BITCOIN PRICE PREDICTION
Currently, Bitcoin has a 24-hour trading volume of $13.7 billion and a current market value of $27,888. Bitcoin’s value has increased by 1.50% in the last day. It is currently ranked first on CoinMarketCap with a $539 billion live market value.
Technical analysis indicates that the BTC/USD pair is now moving in a choppy direction, while there is a chance that the $28,900 level may act as resistance. The technical picture hasn’t changed much as of yet, with Bitcoin still trading close to $27,900.
Bitcoin’s worth could increase if the BTC/USD pair manages to break through the $28,950 resistance level, with a possible price increase to $29,200 or even $30,700.
On the other hand, it is anticipated that the price of Bitcoin would find strong support between $26,600 and $25,200 if a bearish trend takes hold.
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