Bitcoin price analysis: Bitcoin spikes to $3,500, prepares to break $40,000?
Bitcoin has been one of the best performing currencies this year. With it’s recent spike to $3,500, it looks like it will top $40,000 by the end of the year. https://twitter.com/CoinTelegraph/status/1057676324074476321
When you look back to the year 2016, it is hard to imagine that anyone would have predicted a year for bitcoin prices when it was at less than $1,000 at the beginning of the year. Instead, 2017 saw prices rocket to above $20,000, and as of this writing, bitcoin has just surpassed $4000. If you’ve been paying attention, you’ll notice thatbitcoin prices have been a bit of a rollercoaster this year. Throughout 2017, we’ve had some fantastic bitcoin price blips – and some pretty depressing lows – but the more we learn about it, the more apparent it is that bitcoin is the future.
Bitcoin price analysis: Bitcoin spikes to $3,500, prepares to break $40,000? If you’re a regular reader of Bitcoin analysis, you may well have seen the dramatic rise in Bitcoin’s price — which broke above $3,500 on Friday.. Read more about goldman sachs bitcoin forecast and let us know what you think.
Summary of the situation
The BTC fell overnight.
The support is $35,000.
The next target is $40,000.
The price analysis of bitcoin for today is bullish as the market has found support at $35,000. Therefore, we expect BTC/USD to rise in the next 24 hours to eventually break through $40,000 resistance. Crypto-currency heat map. Source: Coin360 The general market has moved into negative territory over the past 24 hours. Bitcoin lost 4.5 percent and Ethereum lost 3.2 percent. The rest of the altcoin market traded with even worse results over the past 24 hours.
Bitcoin price movements in the last 24 hours
BTC/USD was trading in a range of $35,046 – $37,531, indicating moderate volatility. Trade volume remained relatively unchanged at $40.5 billion. With a total market capitalization of $667 billion, the market dominance is 43.98%.
4-hour chart BTC/USD – BTC dropped last night
On the 4-hour chart, we can see that the price of bitcoin is testing support at $35,000 and refuses to fall any further. Four hourly chart BTC/USD. Source: TradingView The market structure of bitcoin is still trading sideways after hitting a new major low at $30,000. From there, resistance has formed around $40,000, suggesting that this level will need to be broken through before we can expect further upward pressure. Several higher lows were reached in late May, indicating that the market was moving in an increasingly narrow range. After a drop in volatility in the first week of June, BTC/USD made a big move on the 7th. In June, there was a significant jump downward. The price of bitcoin quickly jumped to the $31,000 level, meaning that a strong low has occurred and the bears are still in control. The market then continued to rise and peaked slightly lower around $38,000. Therefore, a break above $38,000 will be the first sign that bitcoin is about to reverse its trend. The first signs of an imminent breakout came in the final hours when support was found at $35,000.
Bitcoin price analysis: Supplement
Bitcoin’s price analysis is bullish as the market has retested support at the $35,000 level and is currently rejecting further declines. Therefore, we expect BTC/USD to rise in the coming week and try to finally break through the $40,000 resistance. In anticipation of a further rise in the price of bitcoin, check out our latest guides on how to cash in bitcoin, how to buy bitcoin stocks and whether I should buy bitcoin. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The cryptocurrency Bitcoin has continued to outperform other digital currencies, surging over the $3000 mark recently. It’s current price of $3,443.80 is a 12.6% increase from its price of $2,829 on January 1st, 2017. It’s been a bumpy ride so far in 2017, since the price of Bitcoin has dropped from a high of over $20,000 in December to a low of $4,000 in mid-February. Since then, however, it’s slowly been making its way back up to around $5,000, and that doesn’t seem like it’s going to stop anytime soon.. Read more about painter paid in bitcoin and let us know what you think.