Bitcoin Could Retest $46k Soon – New Price Predictions Are Out | CryptoGazette
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Bitcoin is struggling to regain $46k, and at the moment of writing this article, BTC is trading in the red. Check out the latest price predictions about the king coin below.
Popular crypto analyst Michaël van de Poppe says Bitcoin (BTC) could reach $46,000 and beyond soon. He also talked about the value of rising altcoin STEPN (GMT).
In a new tweet, Van de Poppe shares two BTC charts showing important levels for the leading crypto asset by market cap.
“If the market wants to see continuation, it has to crack that region around $42.3K for Bitcoin. This is also a daily breaker. If it breaks, I’m assuming a new test of $46K is around the corner and possibly $50k+.”
Van de Poppe thinks Bitcoin looks “so far so good” for an upwards continuation. He also said that the US Dollar Index (DXY) is showing weakness. BTC tends to strengthen when the DXY weakens.
“So far, so good for Bitcoin. I don’t think the upside is done, as the DXY is showing weakness… I still think upwards continuation is likely with Bitcoin if $40.3K holds.”
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $40,434.
Inflation is at its highest peak
Earlier today, we revealed that inflation is now at its highest peak since 1981 and this is terrible news. For those claiming that crypto is the scam, this is something to think about.
Check out this relevant tweet:
Someone commented: “I can buy all the shitty stocks in the world with my banks mobile app, and go broke overnight, but my bank freezes my account if I try to buy eth.”
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