Bitcoin (BTC) cryptocurrency exchange rate has corrected after a sharp fall. Therefore, BTC/USD should reach $ 10,000 by June 23rd.
On Monday, the value of Bitcoin reached its minimum value for a month – $ 8,910 (Bitstamp data). However, in the morning, traders began to pump the coin’s rate, breaking through resistance at $ 9,100, $ 9,200, $ 9,300, and $ 9,500. The bulls broke the bearish trend line and made a reversal in the market.
BTC has risen in price to $ 9,596 and is consolidating in an area above the $ 9,500, which acts as the closest support zone. If the current dynamics continue, the cryptocurrency price will overcome resistance at $ 9,640 and $ 9,800 and reach $ 10,000 by June 23.
ByteTree founder Charlie Morris has published BTC blockchain statistics:
According to Morris, these factors indicate a decrease in Bitcoin demand, which will lead to a drop in the coin rate to $ 7,000. The chart data suggests that the price of BTC changes within the descending triangle with resistance at $ 9,700. The lines will intercross on July 2, so the level of volatility should decrease over the next two weeks.
Matt D’Souza, CEO of Blockware Mining, advised investors to build up cryptocurrency reserves on the eve of a bull wound. According to D’Souza, in the next 18-36 months, the price of BTC will reach $ 20,000, $ 50,000, or even $ 100,000. Blockstream chief Adam Beck made an even bolder forecast, saying that Bitcoin will skyrocket to $ 300,000 in five years.
Bitcoin Price Analysis: A Reversal May Occur In Bitcoin Market
Ethereum Price Analysis: ETH Bears The Fate Of Wood And Tencent
Bitcoin Price Analysis: Will The Market Reverse?
Ethereum Price Analysis: Macrofactors Indicate In Favor Of ETH Collapse