Bitcoin Price Analysis

[Blockverge]

#Bitcoin
#Crypto
#Cryptocurrency
#CRyptomarkets
Bitcoin continues to impress with its upward climb. The number one cryptocurrency has already climbed well past the $8,000 psychological level and looks set to challenge the $8,500 resistance level within the week.



As soon as the coin started rising again the markets and crypto forums were flush with predictions that Bitcoin will hit $20,000 by the end of the year. We had a déjà vu feeling all over again. It was around the same time in July-August last year when the cryptocurrency started its meteoric rise and more than tripled in value from $6,200 to $19,600 before falling.

We don’t think such predictions are useful for the purpose of serious technical analysis. Reaching $20,000 by the end of the year is still a far cry. However Bitcoin does appear to be on an upward trajectory and it could hit the $9,000 level soon.



As the $8,000 resistance level has broken for the first time since May, the upside may be extended towards $8,535, which was the high on May 20th. It will be difficult for Bitcoin to stay over this level as a fresh selling interest may appear for profit-taking on short-term speculative positions.

If the coin were to fall on the other hand, there will be support 30.0% Fibo retracement at $8,162 with further support at $7,940. The bulls will control the situation for the time being, at least as long as the price stays above this level. If the support is broken however, the downside correction may be extended towards $7,700  and $7,550.

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[sofmyhad]

BTC will be becoming expensive more and more and I hope that its final price will make uus surprised. I am holding BTC and waiting for its large jump.

[passioncrypto]

Yes, finally. After holding on and waiting and being patient, the market is recovering from the dip and the price of BTC are finally getting a bull run. The price level is increasing and it seems to be not going down. All in all, the scenario looks good.

[RohitMalhotra123]

BITCOIN is rising day by day. It is very expensive coin. From starting it is a number one in position. Scenario of BITCOIN is also very good. In this world nobody can hear bitcoin is down. It is a king of this market and all of us hold the coins & waiting for a large jump.

[Mishgan27]

indeed, the situation is similar to last year. I think there will be a similar scenario. in any case, there is nothing left to wait for now.

[Harpawan]

The price level increases and does not seem to be going down. Overall, the scenario looks good. After persisting and waiting and be patient, the market recovers from the decline and the BTC price finally gets a bull run.

[ostrovagaly]

I do not understand much, but my vision is the following, bitcoin is gaining momentum, and in my opinion there will soon be a pinched growth, now bitcoin strengthens its strength.

[Brianlee0112]

BTC hits dollar $8470, with growing confidence each day. It is a very bullish sign, its trying to grow consistently, so that a dejavu like last year is not created, and is more reliable with results this time on. The trend currently is bearish, with neutral OB/OS index, being the market itself volatile but aiming for a predicted bull run in very soon. Under technical aspect, the thorough analysis is key, to help you determine whether to hold or drop. But, my suggestions say, this time on it has been very consistent in holding its numbers, so keeping holding on to your BTCs.

[batang_bitcoin]

The downside level isn't so low if it will go back to that level.

Still there's more to come for bitcoin while many are speculating. Yeah this is really like last year where there are so much people who are giving their thoughts on where bitcoin is leading.

BITCOIN is rising day by day. It is very expensive coin.

Not really everyday because there are some days that it's down.

Yeah bitcoin is expensive because of many factors but if you find it expensive, you can still buy with fractions.

[13ex07]

The movement upwards is very manipulative. And it is not very predictable. However, it is very interesting to observe this. I hope that, despite this, growth will continue. A long fall weary.

[Antelopez2]

Analysis tells us Bitcoin is going to have a blast and its price will increase much further in the future. I’m just holding my Bitcoins and waiting for a good profit.

[ImpulseGhost]

I think the bad time is over as btc is having a good time with a impressive growth. It looks like it will create new milestones this year.

[GhostKnight]

Bitcoin is now on a bullish trend with a low volatility. I believe this is a good time for those who wants to enter the market.

[sufiasyl]

At last, the price of bitcoin listening to be recovered slowly. The price of Bitcoin is gradually increasing from day to day. Many interested believe that this is the beginning of bullish trend. I hope this trend lasts very long.

[Horas1976]

Bitcoin begins to show good development, the bitcoin community gives fresh wind to its growth. For this development bitcoin will be more and more demand.

[aiza2007]

This trend indicates that the current legalization and regulations news of BTC worldwide has affected the market in a positive way.and the price is going strong.

[liquidbrain]

There is an opinion that last year's history will repeat in the market of crypto currency. However, there will be changes. I'm waiting for November and December.

[haryatiposton01]

I also feel confident Bitcoin will soon reach $ 9000, I also read a lot about similar analysis, most of the experts believe that Bitcoin will soon increase, for me this is good news, bitcoin will not fall again

[crazy_elky]

i'm not bullish about btc now, but i'm sure in 1-2 years the price will grow 5-10x.
my guess is that market needs to be cleaned from scammers before the price can skyrocket, that's why for example i support aml/kyc everywhere in crypto now

[MetalCoinMTC]

Bitcoin is the most fluctuated cryptocurrency on crypto world now. And most of the time it’s grown up. End of the last year it rise on it’s peak. And I hope new investor will be increases with some time and it will be rise rapidly before few times.