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Bitcoin Expert Forecasts $25 000 Before Going Down

Gary Flanders by Gary Flanders
2 years ago
Bitcoin Expert Forecasts $25 000 Before Going Down

As per the analysis of cryptocurrency experts, Bitcoin has recently witnessed a significant surge in value following the unfortunate downfall of several US banks, including the Silicon Valley Bank. BTC has successfully rebounded from its dip to $25,000 and has now surpassed its previous all-time high, reaching the $19,000s mark.

According to the esteemed crypto expert and popular YouTuber, AltcoinSherpa, Bitcoin is projected to fluctuate between a high range of $25,000 and a low range of $15,000. Nevertheless, the insightful creator foresees potential deviations on either end, with a possible high of $35,000 and a low of $13,000. AltcoinSherpa confidently asserts, “The market is always full of surprises.”

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Bitcoin looks really strong in the short term.

Bitcoin recently surged above the $25,000 mark but encountered resistance from its 200-day EMA before experiencing a price decline. Nevertheless, the value of BTC has since rebounded and is currently back on track.

Bitcoin level analysis; reaching $25k prediction; Source: Screenshot from Altcoin Sherpa Youtube Channel
Bitcoin level analysis; reaching $25k prediction; Source: Screenshot from Altcoin Sherpa Youtube Channel

According to the crypto analyst, the coin faces a formidable resistance zone ranging from $20k to $30k. This range served as a crucial support level for Bitcoin in 2021, marking the “bottom for early summer of 2021”. However, if BTC surpasses the $25k mark, it could pave the way for a surge toward the $30k milestone.

According to AltcoinSherpa, a potential scenario exists where 2023 could mirror the price fluctuations of 2019. That year, Bitcoin’s value surged from $3k to $14k before experiencing a 50% decline. Similarly, we may witness a price plateau of $30k this year before Bitcoin undergoes a negative 50% shift, ultimately settling at around $14k. These projections are based on careful analysis and should be considered with a professional mindset.

According to the analyst, the prices fluctuate based on inflation rates and the Federal Reserve’s interest rate decisions. Additionally, the heavy volume of transactions within the $30k to $40k range will impact the overall value.

Tags: Bitcoin
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Gary Flanders

Gary Flanders

Passionate writer who is keenly exploring crypto and Blockchain loves to know about new things and explore what is happening in the world. Cherishes writing, primarily about cryptocurrency and Blockchain.

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