Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency\u2019s next target price.<\/p>\n
Bitcoin price spikes to over $25,000 following a two-month surge
\nBitcoin now looking bearish; struggling to keep its price above $20,000
\nBTC down by 0.12%; currently trading at $21,498.36<\/p>\n
Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000.<\/p>\n
By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. <\/p>\n
Roughly 20,683 community members cast their votes to determine the pricing target.<\/p>\n
BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions<\/p>\n
The price of bitcoin fluctuates by about $21,000. Even though Bitcoin\u2019s recent rally tried to lift the asset out of a prolonged bear market, the community\u2019s forecast is still optimistic.<\/p>\n
The crypto market reacted poorly to the Federal Reserve\u2019s decision to raise interest rates amid the rising inflation, but BTC\u2019s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage.<\/p>\n
At the time of publication, Bitcoin was significantly down 10% over the previous week. Bitcoin price stabilizes above $21,000 as a major shift is soon to come.\u00a0<\/p>\n\n
Chart: CoinMarketCap<\/p>\n
According to Katie Stockton, founder, and managing partner at Fairlead Strategies, the price of Bitcoin, the most popular cryptocurrency, is anticipated to retrace to $18,300.<\/p>\n
The largest coin in the world has fallen below its 50-day moving average, according to Stockton, which may be a signal of an oncoming significant decline.<\/p>\n
Despite the turmoil, cryptocurrency trading specialist Michal van de Poppe said in a tweet on August 23 that Bitcoin is stable and could derive some advantages from the Eurozone\u2019s activities.<\/p>\n
In the past, BTC has a tendency to fall between -14% and -28% below the 200-MA. In fact, mid-June saw a -21% decrease in BTC below the 200-week MA, which was in sync with historical data, he noted.<\/p>\n
Stockton Predicts Long-Term Downturn For Bitcoin Price<\/p>\n
Since the cryptocurrency has lost momentum, analyst now sees a higher risk of a long-term downturn. Stockton predicts that the largest cryptocurrency\u2019s price will soon settle.<\/p>\n
Stockton predicts that it will most certainly drop to the low $18,000 level following a brief relief rally.<\/p>\n
Unfavorable macroeconomic conditions have had a significant negative impact on the cryptocurrency industry this year, with Bitcoin currently trading at a price that is almost 69% below its all-time high.<\/p>\n\n
BTC total market cap at $414 billion on the daily chart | Source: TradingView.com<\/p>\n
Featured image from Bernard Marr, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency\u2019s next target price.<\/p>\n
Bitcoin price spikes to over $25,000 following a two-month surge
\nBitcoin now looking bearish; struggling to keep its price above $20,000
\nBTC down by 0.12%; currently trading at $21,498.36<\/p>\n
Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000.<\/p>\n
By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. <\/p>\n
Roughly 20,683 community members cast their votes to determine the pricing target.<\/p>\n
BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions<\/p>\n
The price of bitcoin fluctuates by about $21,000. Even though Bitcoin\u2019s recent rally tried to lift the asset out of a prolonged bear market, the community\u2019s forecast is still optimistic.<\/p>\n
The crypto market reacted poorly to the Federal Reserve\u2019s decision to raise interest rates amid the rising inflation, but BTC\u2019s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage.<\/p>\n
At the time of publication, Bitcoin was significantly down 10% over the previous week. Bitcoin price stabilizes above $21,000 as a major shift is soon to come.\u00a0<\/p>\n
Chart: CoinMarketCap<\/p>\n
According to Katie Stockton, founder, and managing partner at Fairlead Strategies, the price of Bitcoin, the most popular cryptocurrency, is anticipated to retrace to $18,300.<\/p>\n
The largest coin in the world has fallen below its 50-day moving average, according to Stockton, which may be a signal of an oncoming significant decline.<\/p>\n
Despite the turmoil, cryptocurrency trading specialist Michal van de Poppe said in a tweet on August 23 that Bitcoin is stable and could derive some advantages from the Eurozone\u2019s activities.<\/p>\n
In the past, BTC has a tendency to fall between -14% and -28% below the 200-MA. In fact, mid-June saw a -21% decrease in BTC below the 200-week MA, which was in sync with historical data, he noted.<\/p>\n
Stockton Predicts Long-Term Downturn For Bitcoin Price<\/p>\n
Since the cryptocurrency has lost momentum, analyst now sees a higher risk of a long-term downturn. Stockton predicts that the largest cryptocurrency\u2019s price will soon settle.<\/p>\n
Stockton predicts that it will most certainly drop to the low $18,000 level following a brief relief rally.<\/p>\n
Unfavorable macroeconomic conditions have had a significant negative impact on the cryptocurrency industry this year, with Bitcoin currently trading at a price that is almost 69% below its all-time high.<\/p>\n
BTC total market cap at $414 billion on the daily chart | Source: TradingView.com<\/p>\n
Featured image from Bernard Marr, chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-6287","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=6287"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6287\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6287"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}