Bitcoin (BTC) by 2 different cryptocurrency analysts $55,278.30 There are conflicting predictions for . However, there are reasons for both. We can look at the current situation from different perspectives by considering the views of different analysts on the markets. These evaluations published on also offer the reader the opportunity to gain different perspectives while creating their own strategy. So how many dollars is the BTC target? How many dollars do experts say the Bitcoin price can reach?
Bitcoin Price News Feed Correlation
There are many reasons why the Bitcoin (BTC) price could experience a big move. For example, Mt Gox wallets are activated and BTC drops below $ 50,000. The reasons for this include the negativity of September, the lack of buyers, the excess supply that has been tiring the markets for months, and many more. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Similarly, if the price reaches $70,000, we may have valid reasons. Trump’s chance of winning in the November elections, the first Fed rate cut in 9 days, preparations for the historical last quarter increase report card, whales’ accumulation over months and dozens more can be listed. Even more comprehensive reasons such as the Binance exchange’s reconciliation with the US and the large resolution of Germany and Mt Gox FUDs can be presented.
Then crypto- We can say that currencies do not fluctuate only depending on the news flow and that the BTC price is not determined by the news alone. If there are dozens of different reasons even now as a result of big movements in both directions, we can see these as things that increase momentum.
How Many Dollars Will Bitcoin Be Worth?
The first of the analysts is known by the username Ali_Charts on-chain and technical analysis expert. According to him, Bitcoin (BTC) is playing with fire and there is a risk of falling to $ 41,100. On what basis does he say this? Of course, depending on the historical performance of the MVRV chart he shared below. Ali wrote the following on this subject;
“Bitcoin MVRV “According to the Pricing Bands, the $54,240 support level is very important to watch. Breaking this level could lead to a correction to $41,100!”
So who is targeting $70,000 in the opposite direction? He is an analyst known by the nickname Crypto Rover and he says the following;
“Billions of dollars worth of #Bitcoin short liquidity lies around $70k. We can test there.”
The fact that the intensive liquidation levels on the futures side have been visited many times in the past also causes the second analyst to target $70,000. So which one will come true? Since we cannot see the future, time will tell us which one is wrong.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
