Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Coinpedia Fintech News on April 25, 2023, 12:13:13 PM
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Bitcoin's price has been on a rollercoaster ride, gaining about 80% this year and reaching $30,000 for the first time since June 10, 2022. However, BTC lost 11% over the following five days and is currently consolidating around $27,231. While most traders and analysts have bullish predictions for Bitcoin, one analyst is warning that the cryptocurrency may soon retest the $19k level.
Crypto Zombie, in a new video, explained how Bitcoin will move ahead amidst the lack of clarity by the SEC in the US. He spoke about the retail investors and how the whales are responding right now to the lack of clarity by the SEC in the US. He predicted a retest minimally down to around $25,300 and even suggested the possibility of Bitcoin dropping further to test the $19,000 level. However, he also mentioned that he does not believe Bitcoin will test the $15,000 level.
The short-term bullish forecast for the price of Bitcoin makes sense, but the volatility may exist longer than expected. Unexpected macroeconomic events could cause selling pressure, potentially leading to a 30% pullback and bringing back fear into the market. It remains to be seen how Bitcoin's price will unfold in the coming weeks and months.