Bitcoin is trading at approximately $65,000 and this is a good drop from recent high level of $71k. While this may seem a good accumulation point, it can be also a sell-off trigger.
In this article, we will discuss Bitcoin price prediction along with weekly analysis and news roundup.
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Bitcoin Price Prediction
- Current Price: $65,000
- Market Cap: $1.25 trillion
- 24-Hour Trading Volume: $22.45 billion
- Circulating Supply: 19.3 million BTC
- Total Supply: 21 million BTC
Eyes on the breakout 💥👀.
Weekly Price Analysis
Over the past week, Bitcoin has traded between levels of $63,000 and $67,000. The RSI is also in the neutral zone for BTC.
- 7-Day Change: -3.5%
- Peak Price: $66,500 (earlier in the week)
- Lowest Price: $63,000 (mid-week)
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News Roundup
- Institutional Investments: MicroStrategy has completed an $800 million convertible note offering to acquire more Bitcoin.
- Market Predictions: Analysts at Bernstein have forecasted Bitcoin prices to reach $200,000 by 2025 and potentially $1 million by 2033.
- Regulatory Developments: In the regulatory arena, Germany has begun selling significant amounts of Bitcoin.
Conclusion
Bitcoin continues to be a be a fluctuating crypto with currently no clear inclination towards bullishness or bearishness in the short-term. The crypto is undoubtedly bullish in the long-term as evidenced by it trading it above all major moving averages.
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