Bitcoin (BTC) $104,158.6 The price continues its ongoing movement since the 19th of January. Expert crypto analyst argues that Bitcoin may fall up to $ 85,000 in April. This prediction sheds light on Bitcoin’s current price fluctuations.
Causes of decrease in Bitcoin price
Bitcoin’s price, after the fluctuations experienced in January $ 107 thousand to $ 92.7 thousand dollars. This consolidation process has recently reduced the price of subcoins. According to the expert, if a collapse occurs, it is a matter of curiosity how much the price may fall.
Popular analyst Ansem predicts that the price of Bitcoin can fall to $ 85,000 in April 2024. This estimate is based on Bitcoin’s technical analysis and is supported by price movements in similar periods in the past.
“Many people remind August, but if we remember April?” – Ansem
The 30 -day market Value to Realized Value (MVRV) ratio shows that Bitcoin is in the danger zone. This is a situation where Bitcoin owners are likely to realize their earnings and turn to sales. This may be a harbinger of a short -term correction.
Basic levels to be followed
102 thousand dollars in Bitcoin’s four -hour graph stands out as a significant level of support. A break below this level may further reduce the price of Bitcoin. On the other hand, the resistance point of 110 thousand dollars is closely monitored.
Analyst Ansem’s estimation is realized, the price of sales pressure should be below $ 92.7 thousand. In this case, the price is thought to decline to 85 thousand dollars. These potential fluctuations in the Bitcoin market are considered important signs for investors. Technological analysis and On-Chain metrics may be effective in shaping Bitcoin’s future movements.
Bitcoin’s price movements are critical for the general health of the crypto market and investor confidence. Experts closely follow market trends and try to foresee future movements.
- Bitcoin price may drop to $ 85,000 in April.
- Analyst made predictions based on technical indicators.
- The 30 -day MVRV ratio supports the possibility of a decrease.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
