Another week of intense waiting has passed, but where will Bitcoin go from here to recovery or continue falling? Apparently, there were no sales figures, although an attempt was made to raise the price to $32,000. As a result, the price jumped and this morning came very close to an important resistance in the $40,000 area. We will review the Bitcoin-to-the-dollar exchange rate in our weekly forecast.
For the third consecutive week, Bitcoin continues to be held between $34,000 and $42,000. Liquidity is shrinking and a strong impulse and new movement is likely to start in the near future. All that remains is the question of which way the shot may be fired. This is what we’re going to try to figure out in our weekly rate-of-exchange forecast of Bitcoin to the dollar.
For the second week in a row, bitcoin continues to hold at lows since the beginning of the year. Many members of the crypto community believe that a new crypto-winter has begun. However, the main reason for the fall and the continuation of the decline are bans in China and the likely tightening of regulation of the crypto market in the United States. At the same time, the fundamental reasons for the growth of cryptocurrencies continue to operate. What does the market expect in the coming week? Let’s look at our traditional weekly forecast of the bitcoin-to-dollar exchange rate.
This past week, alas, ended badly for Bitcoin. The ban on the servicing of cryptocurrency companies in China by financial institutions, as well as the pressure on mining companies, has driven down the cryptocurrency market. As a result, the major cryptocurrency depreciated to $30,000, and many market participants decided that a new “cryptowinter” had arrived. Whether this is really true and whether the market will recover, let’s look at our traditional weekly rate forecast of Bitcoin to the dollar.
The past week has been rich in events in the cryptocurrency world. The main source of events, already by tradition, was the head of Tesla and SpaceX, Elon Musk. At first, the markets were afraid of the statement that Tesla will not accept bitcoins as payment, because too much energy is used for their production, which is harmful to the environment. Some time later, it was revealed on Twitter that the company had sold all its Bitcoin, and Musk first confirmed it and then denied it. What is waiting for the main cryptocurrency in the coming week? Let’s take a look at our weekly rate forecast of Bitcoin against the dollar.
This past week has ended well for Bitcoin. As expected, the correction is coming to an end and the main cryptocurrency has yet another attempt to update the price ceiling. Whether or not the price can overcome $65,000 will be explored in our traditional weekly Bitcoin-to-dollar forecast.
The past week has been a nightmare for many individual traders and investors, who may have thought that the “winter” market had returned to the crypto market. However, as history has shown, the market is quite capable of adjusting by 20-30%, after which buyers regain power. Fundamental factors indicate that large investors are not going to leave the market, and some are just coming in. What to expect in this case in the coming week, we will analyze in our traditional weekly forecast of the bitcoin exchange rate to the dollar.
Last Sunday, the main cryptocurrency surprised many, after updating the historical maximum and reaching $65,000, we anticipated a continuation of the upward dynamic and growth to $70,000-$75,000. But the big players had their own plans: impulse sales and the elimination of billions of dollars in long positions dropped the price to $51,000. What to expect next week in our weekly rate projection of Bitcoin to the dollar.
The Bitcoin sideways is too long. For a week now, we expect the bull rally to continue, but investors seem to fear a repetition of a year ago, when markets collapsed as the pandemic began to spread. Indeed, the risks have not gone away, but new waves of disease have traditionally taken place in autumn and spring, but with each passing, the intensity of the disease is diminishing. Also traditionally, April is very strong for stock markets, it is likely that investors will transfer this tradition to the crypto market. What will be the coming week? Let’s go over our weekly rate of Bitcoin to the dollar.
At the beginning of last week we expected a slightly different development: Bitcoin was to update ATH and continue the upward trend. Instead, however, there has been a backsliding of up to $50,000. The main cryptocurrency is now traded in a wide range between $57,000 and $52,000. Let’s try to figure out what the BTC is waiting for next week.