Bitcoin's recent correction and retracement of gains linked to BlackRock's BTC ETF application indicate weakness in the market, prompting one crypto trader to stay on the sidelines until Bitcoin either reclaims $30,000 or experiences a major collapse, while also noting that trader sentiment currently favors altcoins.
Bitcoin, the top cryptocurrency, reached a two-month low due to risk aversion in global markets triggered by concerns about China's economy and U.S. interest rates, as well as a report that Elon Musk's SpaceX sold its bitcoin holdings.
Analyst Nicholas Mertens warns that both Bitcoin and Ethereum are likely to face significant challenges and potential price declines, with Ethereum at risk of breaking support and dropping below $1,000 due to a lack of buyers.
Bitcoin price reaches a 2-month low, but crypto analyst Michaël van de Poppe predicts a positive change in the future due to market cycle theories and the upcoming Bitcoin halving in 2024, potentially reaching a price of $50-55K pre-halving.
Cryptocurrencies, including Bitcoin and Ethereum, experienced a rise in value as investors anticipated the Federal Reserve's annual meeting and Bitcoin attempted to reach $30,000.
Bitcoin might experience a period of stagnation followed by a potential peak at $200,000 by the end of 2025 or early 2026, according to a crypto analyst, although short-term prospects for Bitcoin appear challenging due to a comparison with the 1930s stock market and oversold condition.
Bitcoin has made a significant move upwards, approaching $27,000 after days of stagnation, although other cryptocurrencies such as SOL, ADA, TON, and MKR have outperformed it.
Bitcoin's price rose nearly 5% to just below $26,800, driven by a rally in traditional markets and increased trading volumes, while bankrupt exchange FTX seeks to sell its crypto holdings with the help of Galaxy Digital and Binance discontinues its crypto-backed debit card in Latin America and the Middle East.
Head of Research at FS Insight, Tom Lee, predicts that Bitcoin's network value and scarcity could push its price over $200,000, while other experts, including Ark Invest CEO Cathie Wood, also foresee significant growth for the cryptocurrency. Lee highlights Bitcoin's resilience and regulatory scrutiny as well as interest from traditional financial giants such as BlackRock and Citadel.
Google Bard, an artificial intelligence bot, predicts that the lowest price Bitcoin could reach in 2023 is $20,759, based on analyses by financial experts, with some projecting even lower at $12,000 and others more bullish at $30,000 or higher. Factors such as sticky inflation drivers, increased regulatory scrutiny, and potential catalysts like institutional adoption and the launch of a Bitcoin ETF could influence Bitcoin's price in the coming months.
Bitcoin is predicted to reach a price of $148,000 after the next halving in April 2024, according to Pantera Capital, which manages $3.5 billion worth of assets, and notes that recent events such as the XRP ruling and endorsements by BlackRock are likely to contribute to the next bull market for digital assets.
Bloomberg Intelligence's senior macro strategist predicts a near-term bearish trend for Bitcoin, citing its failure to exhibit strength in a deflationary environment, but anticipates that it will eventually reach $100,000.
Bitcoin (BTC) remained relatively unchanged this week with a price of around $26,000, while the crypto market saw developments such as increased Bitcoin mining difficulty, negative reports on Binance, and the integration of USD Coin (USDC) on multiple blockchains. Additionally, there were updates on regulations, legal matters, crimes, and NFTs.
Bitcoin's recent surge in value may be attributed to a $10 billion investment by whales, Robinhood's involvement in a $3 billion Bitcoin purchase, and JPMorgan analysts predicting an end to the crypto bear market.
Bitcoin's price is closely linked to stock prices and has seen significant growth, outperforming Amazon over a 12-year period, according to Bloomberg analyst Mike McGlone; however, he is skeptical about its move into the mainstream and warns of potential price declines when the masses invest. Other analysts speculate on Bitcoin's price, with predictions ranging from a dip to $23,500 to exceeding $30,000 by year-end. McGlone is known for identifying unique trends in Bitcoin, and JPMorgan suggests that the recent crypto asset selloffs are mostly over.
Bitcoin traders may soon experience a fear of missing out (FOMO) as the cryptocurrency is expected to make a strong upward move, according to a popular crypto strategist, Credible Crypto, who believes that Bitcoin needs to reclaim a key level around $29,000-$30,000 for the real FOMO to begin.
Bitcoin (BTC) drifted towards $27,000 as buyer interest remains low and analysts caution about a potential downside, despite a recent legal victory for Grayscale.
Bitcoin pulled back from its all-time high above $28,000 as investors analyzed the implications of Grayscale's court victory against the SEC, with the cryptocurrency dropping 2% to $27,240, while Ether decreased 1.7% to just above $1,700, leading to a decline in the broader crypto market.
Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Hundreds of millions of dollars worth of crypto assets have been liquidated as Bitcoin's price falls below $26,000, with the majority of the liquidations coming from exchanges such as OKX, Binance, and ByBit.
Bitcoin (BTC) closed the week below $26,000, with traders closely monitoring the $25,900 level as a potential support zone to determine future price movements. There is a possibility of Bitcoin entering a bearish scenario with sub-$20,000 levels, but a bullish revival above $26,000 is considered less likely.
Bitcoin price action remains uncertain as traders and analysts are divided on its next moves, with downside predictions ranging from $25,000 to $23,000 and concerns of a potential double top structure if the $26,000 level is not reclaimed, while network fundamentals consolidate recent gains and macro markets stay quiet.
Bitcoin is trading near the $26,000 level and uncertainty about its next move suggests a limited downside in the near term, with hopes for approval of a spot Bitcoin exchange-traded fund by the SEC potentially providing support.
Bitcoin remains in a tight range between $25,800 and $26,000 after a recent price spike, as the SEC's delay in key ETF decisions dampens hopes of a long-term recovery in the market.
Bitcoin continues to trade below $26,000, with the crypto market experiencing a sideways trend, while Deribit's options segment saw increased trading volume in August.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
Nearly half of the world's crypto millionaires hold their fortunes in Bitcoin, highlighting the enduring popularity of the cryptocurrency despite competition from other digital assets.
Bitcoin is predicted to reach $22,000 due to worsening investor sentiment and the impact of lawsuits against Binance and Coinbase, while BitMEX co-founder Arthur Hayes claims the bull market began in March.
The price of bitcoin briefly rose above $25,900 after the FASB approved favorable accounting treatment for companies holding crypto on their balance sheets and ARK Invest submitted paperwork for a spot ether ETF, but quickly returned to its previous level.
Bitcoin (BTC) could reach $35,000 by the end of 2023, according to veteran analyst Filbfilb, who also predicts a potential price dip to the low $20,000 range before a reversal in Q4 and a price target of $46,000 by the 2024 halving. He believes that altcoins like XRP and Dogecoin (DOGE) could perform well in the next cycle.
Bitcoin's price is trading within a tight range, but Charles Edwards of Capriole Investments believes it presents a low-risk buying opportunity based on Bitcoin's production cost and energy value theory, which gives a fair value price of $47,200.
Bitcoin is on the brink of a bearish breakdown, but there is a possibility that the $25,000 support level could hold, presenting a short-term buying opportunity for investors. The price action of the US dollar and on-chain data suggest that buyers could return soon, making the current situation potentially profitable for opening Bitcoin longs.
Bitcoin and the overall digital asset market have seen a significant decline, with Bitcoin dropping to its lowest price in three months at $25,048, attributed to failed crypto exchange FTX seeking approval to liquidate $3.4 billion in various digital assets.
Bitcoin trades at $25,933, up 0.66% as U.S. CPI data is anticipated to show a small increase in August, driven by rising oil prices, while digital assets remain stable due to short covering and liquidity crunch, although a sustained bullish momentum is yet to be seen; meanwhile, the price of CRV token falls by 3.3% following negative events and selling pressure.
Bitcoin's recent dip below $25,000 is seen by some as a buying opportunity, but the low amount of BTC changing hands and the risks associated with a potential price increase suggest otherwise.
Bitcoin is showing strength and could reach $28,000 despite negative news, according to Altcoin Sherpa, a popular crypto trader, while cautioning about the downward trend of Ethereum rival Solana.
Bitcoin prices reached above $27,000 for the first time this month, with multiple cryptocurrencies experiencing broad gains, although the reason for the increase is unclear, and low liquidity may be contributing to volatility.
Crypto strategist Benjamin Cowen predicts that Bitcoin will experience a short-term rise to test its bull market support band before resuming its downward trend, potentially falling below $20,000, although he believes it could eventually break through the band and enter a sustained bull market.
Bitcoin's recovery is being met with selling above $27,000 due to nervousness surrounding the Federal Reserve's meeting, while long-term investors are accumulating, and institutional activity remains cautious.
Crypto strategist Credible Crypto suggests that Bitcoin could dip to around $24,900 but still remain on track for a bull market cycle, and he is closely monitoring Bitcoin options open interest as an indicator for the market bottom.
Deep-pocketed crypto investors have moved over $660 million worth of Bitcoin, Ethereum, and Chainlink as Bitcoin's price drops below $27,000.
