According to a crypto analyst, Credibull Crypto on Twitter, the current Bitcoin price increase is not likely to lead to a significant increase to $33,000. Instead, they believe that the price of the asset will reach a marginal high or a higher high compared to a previous high point, potentially reaching a local high point to complete the first upward movement from a previous low point.
Lot’s of questions about my thoughts on this pump we are seeing- is this the start of our move to 30k+? Is the dip over? Made a quick 4 minute vid on $BTC to answer these questions and more 👇https://t.co/NBhFc328to https://t.co/CZuAQ3EmGf
— CrediBULL Crypto (@CredibleCrypto) February 15, 2023
Will Bitcoin breach the 30k mark in near future?
He predicts that there may be a period of consolidation, which is when prices move within a tight range as buyers and sellers determine the next direction of the market. The analyst expects that the market will resume an upward trend after consolidation and that the price of the asset will rise to at least $33,000. They also mention $40,000 as a potential target. The analyst believes that the price of the asset will eventually surpass its previous all-time high, meaning it will reach a higher price than it ever has before.
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BTC Price Today
The world’s largest crypto, Bitcoin increases by 8.08% in the last 24 hours, thus, taking the market cap to 476.69 billion USD. Each BTC is trading for 24,474 USD. This is the first time since August 2022 that the token has crossed the 24k mark, a high of 6 months. However, for the upward trend to continue, Bitcoin must achieve a daily closing price above $25,000. Source: coinmarketcap
Trading volume in the last 24 hours is up by 17.77%. The dominance of Bitcoin has increased by 1.10% as compared to the previous day and stands at 42.65%.
The global crypto market cap stands at 1.12 trillion USD, an increase of 8.54% over the past day. The total crypto market volume in the last 24 hours increased by 25.01% and is currently at 73.49 billion USD.
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