The most trending digitalย currency in the world, Bitcoin, is asย ofย now going through a rough patch, and traders are now predicting that the worst is not over as more price crashes are to follow.ย
Pseudonymous analyst Cryptocurrency GVR has even predicted a potential dump in the range of $24,000 to $25,000 within theย following 7-14 days for a retest of that level.
#Crypto Shocking News ๐ฑ#bitcoin gonna dump in between 24000-25000$ in next 7-14 days to Retest the level , Better to eat #BTC dip
I can’t see reversal and also all #altcoins will dump 30-60% by end of the may month (Retweet for Rewards)
Note : 99% Accurate Tweet pic.twitter.com/8ixYHEq1nv— Crypto GVR (@GVRCALLS) May 25, 2023
Crucial Levels To Watch
Bitcoinย (BTC) seemsย to be now declining from all important areas of support, increasing the possibilityย of a large correction.
Asย ofย now, Bitcoinย (BTC) is priced at $26,222, accordingย to CoinMarketCap. Nonetheless, recent developments have shown nearly 2 percent downfall in the past 24 hours alone. Zooming out to a broader perspective, the lastย week has witnessed a gradual decline of 3.6%, showcasing the volatile and ever-shifting nature of the digital investment market.
Bitcoinโs trajectory appearsย to be pointing towards a critical demand wall situated betwixt the $24,300 and $25,200 levels.ย
Within this critical zone lies a remarkable transaction history, where a staggering 852,000 investors acquired approximately 341,000 BTC, with an estimated value of $8,946,930,000. It is critical for market participants to keep an eye on this threshold asย aย resultย of the wholeย lotย of degree of interest and potential support indicated by the buildup of Bitcoin at the demand wall.
A Battle Of Bulls & Bears
There are asย ofย now two opposing views on Bitcoin, creating a duality. Several believe it is ready toย start its ascent as it gingerly rests on a small ledge around the $27,000 mark.
Others, on the other hand, believe it to be hanging on by a thread and predict a definite collapse to the mid-20s or perhaps even lower.ย
Andย once of writing thisย post, Bitcoin has already fallen to the $26,230 mark, and the Relative Strength Index (RSI) is showing a flow under the 30 mark.
The markets seemย to be choppy atย thisย time and itโs definitely difficult to navigate. Nonetheless, traders and investors can still secure a strong portfolio with continuous research and analysis.
