{"id":527932,"date":"2023-04-21T14:00:21","date_gmt":"2023-04-21T14:00:21","guid":{"rendered":"https:\/\/wncen.com\/?p=527932"},"modified":"2024-06-11T08:50:56","modified_gmt":"2024-06-11T08:50:56","slug":"bitcoin-at-25000-or-30000-crypto-analyst-weighs-in","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-at-25000-or-30000-crypto-analyst-weighs-in\/","title":{"rendered":"Bitcoin At $25,000 Or $30,000? Crypto Analyst Weighs In"},"content":{"rendered":"<p class=\"p2\">Bitcoin has experienced a hard couple of days after climbing above $30,000 last week. The coin reaching a new 9-month high triggered euphoria in the market. However, it has begun to wear off as Bitcoin has now returned to $28,000 once more. The question now is where does BTC go from here? Does it continue its uptrend and is further downside more likely for the cryptocurrency?<\/p>\n<h2 class=\"p2\">Analyst Shares Expectations For Bitcoin<\/h2>\n<p class=\"p2\">Speaking on where Bitcoin might go from here, analyst Micheal van de Poppe shared his forecasts. The analyst shared a BTC chart that showed unpredictable movement for the cryptocurrency at best, signaling that BTC had entered a region where forecasts are hard to come up with.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/arb\/arbitrum-defies-bears-as-arb-price-breaks-above-1-7-resistance-but-can-it-keep-up\/?swcfpc=1\">Arbitrum Defies Bears As ARB Price Breaks Above $1.7 Resistance, But Can It Keep Up?<\/a><\/div>\n<p class=\"p2\">He put the next crucial point for the digital asset at the $27,600 level. Given that Bitcoin had previously ranged support here before its run-up above $30,000, it becomes an important level. Van de Poppe explained that the rally could continue from here but it would need to be fast. \u201cCould take liquidity beneath, but needs a fast recovery,\u201d he explained.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> is currently showing weakness. <\/p>\n<p>Broke back in the range, lost one of the crucial levels.<\/p>\n<p>Final crucial level is at $27,600. Could take liquidity beneath, but needs a fast recovery. <\/p>\n<p>If not, and no break of $28,800, then I suspect we&#39;ll see $26,200. <a href=\"https:\/\/t.co\/TuCaFq8eIk\" rel=\"nofollow\">pic.twitter.com\/TuCaFq8eIk<\/a><\/p>\n<p>&mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/33094146?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p2\">On the flip side of this is the $28,800 resistance being mounted by the bears. At this point, the analyst explains that it becomes crucial to breach this level. In the event that bulls are unable to retake it, then he puts the price back in the $26,000 territory.<\/p>\n<h2 class=\"p2\">BTC Enters A Perilous Position<\/h2>\n<p class=\"p2\">BTC is now at a point where it becomes very important for it to at least see some upside if it is to continue holding its value. This is because its decline to $28,000 has now put it firmly below its 20-day moving average. So while Bitcoin remains bullish for the long term, the short term has turned bearish very quickly.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/IcdldzEU\/\" alt=\"Bitcoin (BTC) price chart from TradingView.com\" width=\"2854\" height=\"1724\"><\/p>\n<pre style=\"text-align: center\">BTC falls to $28,000 | Source: <a href=\"http:\/\/TradingView.com\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">Right now, there is support at $28,000 but there is no telling if this will hold as BTC is already below $28,100. The mounting resistance at $28,800 is also a deterrent right now for investors, who are choosing to keep their distance.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/bears-drag-ethereum-below-2100-support-as-eth-withdrawals-cross-2-billion\/?swcfpc=1\">Bears Drag Ethereum Below $2,100 Support As ETH Withdrawals Cross $2 Billion<\/a><\/div>\n<p class=\"p2\">However, such a position also means that the possibility of the upside is just as high as that of the downside. For some, this retracement has presented a unique opportunity to get into the cryptocurrency at cheaper prices and could trigger an accumulation trend. As long as demand remains high, then $25,000 remains speculation for now.<\/p>\n<p class=\"p2\">Bitcoin\u2019s price is still suffering losses at the time of this writing. It is currently trading at $28,033 with a 2.70% decline in the last 24 hours. On the weekly chart, it is seeing 9.04% losses, but there has been a small uptick of 5.11% in its trading volume in the last day.<\/p>\n<div class=\"disclaimer-shortcode\">Follow <a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\">Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has experienced a hard couple of days after climbing above $30,000 last week. The coin reaching a new 9-month high triggered euphoria in the market. However, it has begun to wear off as Bitcoin has now returned to $28,000 once more. The question now is where does BTC go from here? Does it continue its uptrend and is further downside more likely for the cryptocurrency? Analyst Shares Expectations For Bitcoin Speaking on where Bitcoin might go from here, analyst Micheal van de Poppe shared his forecasts. The analyst shared a BTC chart that showed unpredictable movement for the cryptocurrency at best, signaling that BTC had entered a region where forecasts are hard to come up with. Related Reading: Arbitrum Defies Bears As ARB Price Breaks Above $1.7 Resistance, But Can It Keep Up? He put the next crucial point for the digital asset at the $27,600 level. Given that Bitcoin had previously ranged support here before its run-up above $30,000, it becomes an important level. Van de Poppe explained that the rally could continue from here but it would need to be fast. \u201cCould take liquidity beneath, but needs a fast recovery,\u201d he explained. #Bitcoin is currently showing weakness. Broke back in the range, lost one of the crucial levels. Final crucial level is at $27,600. Could take liquidity beneath, but needs a fast recovery. If not, and no break of $28,800, then I suspect we&#39;ll see $26,200. pic.twitter.com\/TuCaFq8eIk &mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) April 21, 2023 On the flip side of this is the $28,800 resistance being mounted by the bears. At this point, the analyst explains that it becomes crucial to breach this level. In the event that bulls are unable to retake it, then he puts the price back in the $26,000 territory. BTC Enters A Perilous Position BTC is now at a point where it becomes very important for it to at least see some upside if it is to continue holding its value. This is because its decline to $28,000 has now put it firmly below its 20-day moving average. So while Bitcoin remains bullish for the long term, the short term has turned bearish very quickly. BTC falls to $28,000 | Source: BTCUSD on TradingView.com Right now, there is support at $28,000 but there is no telling if this will hold as BTC is already below $28,100. The mounting resistance at $28,800 is also a deterrent right now for investors, who are choosing to keep their distance. Related Reading: Bears Drag Ethereum Below $2,100 Support As ETH Withdrawals Cross $2 Billion However, such a position also means that the possibility of the upside is just as high as that of the downside. For some, this retracement has presented a unique opportunity to get into the cryptocurrency at cheaper prices and could trigger an accumulation trend. As long as demand remains high, then $25,000 remains speculation for now. Bitcoin\u2019s price is still suffering losses at the time of this writing. It is currently trading at $28,033 with a 2.70% decline in the last 24 hours. On the weekly chart, it is seeing 9.04% losses, but there has been a small uptick of 5.11% in its trading volume in the last day. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":527950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,78790],"class_list":["post-527932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin At $25,000 Or $30,000? Crypto Analyst Weighs In<\/title>\n<meta name=\"description\" content=\"Bitcoin has experienced a hard couple of days after climbing above $30,000 last week. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin At $25,000 Or $30,000? 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