Bitcoin Price Prediction: BTC Price Drop Below $42K, Can it Still Hit $100,000 by 2024?
After the recent rally in BTC's price, it went down and is now trading around $41,900. This has caused some concerns in the community. Many are wondering if Bitcoin can still reach $100,000 by the end of 2024.
However, some traders are reacting with Buy The Dip,' which could reignite the bullish sentiment.Before then, know that this BTC's performance shows how the cryptocurrency market can go up and down anytime it wants.
Bitcoin's Recent Price MovementToday, December 12, BTC took a dip, down by almost 2 percent. Even in the past seven days, the coin hasn't been really doing well.It has a modest uptick of 0.48%. This is likely because some investors are taking out some profit.
However, let's zoom out a bit. Over the last month, BTC has been flexing its muscles, gaining about 13% in price. Ultimately, today's downturn might be a minor hiccup as the longer timeframe looks a bit more promising.
Bitcoin Technical Analysis: Can BTC Reach Its Highest Price Ever?Checking out the daily Bitcoin chart, it's still on the upswing, even if the shorter time frame is not good. The market regaining its momentum will depend on today's sell-off. Notably, the daily chart displays some interesting candles. It has formed a long lower wick.
This implies that the selling pressure is dropping, and the downward movement might not continue.Notably, this wick is acting as a strong support for around $40,268.
Secondly, the MACD is above the signal line, and the histogram bars are showing green today. This supports the bullish momentum presently.Additionally, BTC is above both the 50-day and 200-day SMA indicators.
This implies that the price is on a bullish ride. Even though the bears are showing power, the bulls are holding their ground.
Adding to this, after a long, bearish candle, the market is pulling itself up with a green candle.If more buyers join the train, BTC might just hit $48,000k. This is the first psychological point.
If there's a breakthrough in that region, we're looking at a full-blown bullish run.
This could potentially push the price of BTC to reach $100k by the end of 2024.But not too fast. Here's something you must know. For Bitcoin to touch this level, it needs a bullish catalyst for this rally.
The top factor that could do this is the upcoming spot BTCETF. On the other side, if the bulls can't keep the price above $41,800, get ready for a dip.
The coin may drop to $41,700 by today's end. Below that price, there's another strong support at $35,000. But crossing that line won't just affect BTC - it's like a ripple effect that will shake the whole crypto industry.
So, investors should tighten their seatbelts as much as possible.
Latest BTC Reports Reveals That El Salvador is Set Release Bitcoin Bond in Q1 2024, Will it Push BTC Price Up?The long-awaited Bitcoin Bond will finally come to life. The country's Digital Assets Commission gave the green light to this bond in El Salvador on December 11. According to the post, this bond is anticipated to become functional by the first quarter of 2024.
Also, El Salvador's big Bitcoin fan, Nayib Bukele, dropped a hint in his own post. He said, When volcanoes bond." Also, he shared another bunch of posts confirming that the bonds are coming in Q1 2024. This shows this popular figure is pretty excited about this move.
How Will this Affect the BTC Price?El Salvador giving the nod to Volcano Bonds" is like a big shot for Bitcoin. This development will also boost the belief people have Bitcoin and possibly attract other countries.
As more countries follow suit, this will likely boost BTC's popularity and, in turn, its price over time.
Adding to the excitement is the upcoming spot BTCETF listing, which might also boost investors' confidence. Don't forget that Bitcoin halving is on the way. Based on how prices react before this event, BTC may rally significantly.
But besides BTC, investors could also diversify towards a new crypto asset already making waves in the market through its presale success.
Bitcoin Top Alternative - GambleFi Token TG.CasinoTG.Casino, the latest Telegram casino, is getting noticed by big investors. The cool thing about this project is that you place a bet without revealing your true identity.
The only requirement here is to just link your account to your crypto wallet, and boom. The project has this special token that runs every operation. Having this token will unlock awesome features and sweet rewards.
The best part is that this token is currently in presale and you can buy it now at a low rate. Through the presale, the team has raised more than $3.8 million. Not only that, but over 2,000 players are already using this platform.
According to the team, NFTs will be given to token holders after the presale event.
Best Time to Buy this TG.Casino Before Price Skyrocket
Even in the presale, the token's price is gaining. Right now, each token is at $0.185, but it's going up in four days.TG.Casino shared that the casino scene is booming, and this project aims to take a piece of that.
This is because TG.Casino is using crypto technology and the popular Telegram.
Plus, making deposits and withdrawals on this platform is very fast and simple.Interested people should head to the project's site and buy the token. Meanwhile, there's another special package for token holders. The team promises them a share of profits through a buyback program.
This will make the token scarcer and, of course, its price. Adding to this, there's also a staking feature where you stake your tokens for profits. With all this, now is possibly the best time to grab this opportunity.
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