Bitcoin Seen Dropping To $32K – But Not This Month – As Analyst Sees It Hitting $48K

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Wenerei, Haratua 4, 2022 4:46 AM

Bitcoin Seen Dropping To $32K – But Not This Month – As Analyst Sees It Hitting $48K

Tuhinga o mua Bitcoin (BTC) has failed to break through the $40,000 barrier, indicating that confidence in the cryptocurrency market remains sluggish.

Kua heke iho te BTC mo te marama neke atu. Mena ka taka ki raro i te $38K, ka taka katoa ki te $32K. Ahakoa kei te heke te maakete crypto inaianei, kaore e taea e tetahi atu tukinga, tae noa ki te mutunga o te hui FOMC.

Traders’ enthusiasm in the cryptocurrency market continues to erode as a result of the market’s prolonged fall and geopolitical uncertainty. Veteran trader Peter Brandt anticipates a test of the Bitcoin (BTC) price below $32,000.

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Brandt stated in a tweet that Bitcoin has completed a bearish course, plunging below the $38K level in the last 24 hours. He anticipates a $32,000 test in the near future. However, his estimate of $28,000 is more concerning for Bitcoin.

Additionally, on-chain data does not bode well for bitcoin, as profit transactions have surged. This indicates that profit booking may be occurring at higher levels.

Ahakoa nga awangawanga e mau tonu ana mo te hononga nui o te maakete moni crypto me nga moni, kei te kaha tonu nga kaitätari mo te crypto.

According to market expert and Placeholder VC partner Chris Burniske, Bitcoin and Ethereum have dominated the stock market for years and will continue to do so.

I kii a Burniske i roto i te tweet ko te maakete cryptocurrency "kua mau tonu" ki te whakataurite ki nga rakau tipu-nui. Ahakoa kua ngaro te BTC me te ETH tata ki te 40% mai i o raatau teitei i nga wa katoa, he maha nga rakau tipu nui kua hinga i waenga i te 60% me te 80%.

E ai ki nga raraunga mekameka mai i te turanga tātaritanga a Santiment, kei te heke te maia o nga kaihokohoko ki te whakahoki ano a BTC i tana taumata $40k. Ko te BTC me te ETH Ratio o nga Whakawhitinga Moni / Ngaronga e whakaatu ana i te 12.5 ki te 1 ōwehenga o nga whakawhitinga hua ki nga whakawhitinga mate.

No reira, he nui te ahua o te BTC ki raro i te $32K i te mea kei te heke haere tonu te whakawhirinaki me te iti haere o nga hoko tohorā.

Panui Whakatau | Bitcoin Briefly Tops $40,000 As More Countries Adopt Crypto

Meanwhile, while no asset’s future performance can be predicted, Alex Kuptsikevich, senior market analyst at FxPro, forecasts Bitcoin will trade between $32,000 and $48,000 by the end of this month.

“May is regarded a relative success for BTC in terms of seasonality. Bitcoin has concluded the month up seven times and down four times during the last 11 years,” Kuptsikevich .

I kii a Kuptsikevich i hanga e ia tenei matapae i runga i te whiwhinga toharite o te cryptocurrency o 27% me te mate toharite o 16% i te marama o Haratua, mo te nui o te hua o te 11%.

As of Tuesday evening, Bitcoin was trading at approximately $38,528 per coin, CoinGecko data show.

Kuputuhi taketake: NewsBTC