Bitcoin (BTC) Bulls Plot Next Big Move After An Explosive Week As Altcoins Continue To Show Weakness

2019-6-30 22:24

The week has been hugely bullish for Bitcoin. The prices bulldozed their way to new year highs and the parabolic market surge was one of the highest rises in recent months. At some point, when Bitcoin prices were reaching highs of $13,800, Bitcoin was up by 43% in just seven days.

In addition to prices skyrocketing, Bitcoin’s dominance was through the roof. This rose to over 60% and has maintained above this since. Because of this, altcoins have not had such a smooth and prosperous week as Bitcoin. A majority after moderate gains crashed with Bitcoin towards the end of the week and continue failing in finding high support positions.

Where To Next For Bitcoin (BTC)?

Since Bitcoin hit its new year high, the asset has gone through a price correction. The asset dropped from highs of $13,800 to mid $11,000 range before finally bottoming at $10,600.

Via TradingView

A quick rebound saw Bitcoin climb back above $11,000 and settle just under $12,000. Earlier in the day, Bitcoin attempted to get back above this, going as high as $12,300 but the bulls could not hold the position. A flash crash saw the asset fall back below it, a sign that volatility is extremely high. At the time of press, Bitcoin is exchanging for $11,847.

Currently, there is uncertainty over the next move Bitcoin makes and the same has seen volatility increase. Just like in the $9,000 range a few weeks ago, some analysts are calling for a 20% to 30% pullback. This is expected to pull prices to the $9,000 range. Notably, this could be the last dip before Bitcoin retests its all-time high of $20,000.

Some analysts, however, are not predicting any sort of significant pullback anytime soon. eToro analyst, Simon Peters suggested that there was no stopping for Bitcoin. He predicted the asset could reach highs of $20,000 in a week or two.

Past events show that Bitcoin will trade sideways for the next couple of days before another major move. But owing to how different the 2019 Bitcoin rally is from any other rally in the history of Bitcoin, there cannot be any certainty.

The post Bitcoin (BTC) Bulls Plot Next Big Move After An Explosive Week As Altcoins Continue To Show Weakness appeared first on ZyCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 65607.5 (+0.55%)
Объем 24H $29.449b
Изменеия 24h: -0.64 %, 7d: 4.28 %
Cегодня L: $65194.83 - H: $65607.5
Капитализация $1292.423b Rank 1
Цена в час новости $ 11753.46 (458.2%)

bitcoin week prices highs continue weakness altcoins

Источник: zycrypto.com

bitcoin week → Результатов: 126


Фото:

Bitcoin Bottom In? Retracement From $73,800 Is Deeper And Took Longer To Form

Some analysts were frightened by the recent drop in Bitcoin prices. Though the coin is showing signs of strength, multiple leveraged longs were liquidated early this week. In a post on X, one analyst thinks Bitcoin might have just found support, bottoming up after the contraction this week, pushing it lower from the multi-week range established in mid-March through to the better part of April.

2024-5-4 23:00


Bitcoin Blasts Past $70,000 In Wild Week To Register New All-Time High

The price of bitcoin has shattered records by briefly surging past the $70,000 mark earlier today, signaling a renewed wave of enthusiasm among investors. The top cryptocurrency experienced a steady climb throughout the week with a sustained 12% rally, aided by the introduction of spot bitcoin exchange-traded funds (ETFs) in the United States.

2024-3-11 11:32


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru