Bitcoin prices are still expected to retest previous records or at least return to higher valuations. The $ 12,000 level is considered likely by mid-2020, when BTC is trying to make another breakout.
Bitcoin price hits 12,000 USD is quite possible
Yesterday, the Bitcoin price stagnated below $ 8,800. The short-term predictions call for a deeper decline, but on the long-term floor, BTC may be preparing for a mid-year rally.
Bitcoin trading may be the option of some holders, in an effort to earn more BTC. Analyst Josh Rager recommends trading with caution and planning. While Crypto Twitter Richard Hilger finished the picture in anticipation of the price range between a low of $ 7,300 and a high of over $ 12,000.
I have my core holdings of #bitcoin but I am in cash otherwise. This is going to drop to long term trend line again. Target $ 7300- $ 7400 – then $ 12k by Summer months.
– Richard Hilger (@richardhilger) March 4, 2020
On Wednesday, Bitcoin's price hovered around $ 8,776. King coins still face short-term volatility in both price and volume. The sudden shutdown of Binance for maintenance led trading activities to drop below $ 38 billion in 24 hours,
The $ 12,000 prediction is still close to the usual range for Bitcoin price, and in the general view that the leading cryptocurrency will not reach new all-time highs this year. Up to now, BTC has been trading within a limited range, in line with previous predictions.
Your #BTC price prediction: by the end of March …
– BTCMEX (@BTCMEXGlobal) February 19, 2020
Bitcoin transactions come back to fear
Bitcoin's fear and greed index (Bitcoin fear and greed index) has dropped to 41 points, has not yet entered panic mode, but has recently escaped greedy territory. The Bitcoin price ended February with a loss, despite the usual pattern for January which was stagnant and surged in February. The bearish sentiment and the short-term decline are still not out of the question, and BTC is now Just spend a little time at the top.
The predictions do not envision a rapid recovery, right now.
#BTC #MDM #TOP #RALLY Bitcoin (BTC) Price Prediction – March 3 Within 48 hours, the Bitcoin price is down from $ 8,993 to $ 8,701. No quick recovery seems possible for (…)
… Read more: https://t.co/3LQlcOrzGT
– webnow (@webnowcompany) March 3, 2020
At the same time, the Bitcoin price is known for its unpredictable bounces, and to reclaim $ 10,000 within a few days in January. Halving is also one of the events that can push the price of BTC higher. , but also led to short-term selling off.
The move below $ 9,000 makes futures trading much slower than on Bakkt.
ICYMI: Tuesday's Bakkt Bitcoin Monthly Futures:
📈 Traded contracts: 1926 ($ 17.19 million, + 72%)
🚀 All time high: 6601 (12/18/2019)
Interest Open interest: $ 8.65 million (-8%)
– Bakkt Volume Bot (@BakktBot) March 4, 2020
There is no potential for a rally, both the volume and the number of open contracts retreated. But optimism and bullish sentiment persists when the Indian Supreme Court passes a historic ruling by rejecting the central bank's cryptocurrency ban. In addition, another positive sign is the legalization of cryptocurrency transactions in Korea.
Maybe you are interested:
Join our channel to stay up to date on the most useful news and knowledge at:
According to Bitcoinist
Translated by ToiYeuBitcoin