What can happen to the price?


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What can happen to the price?

Analyst notes that the digital currency “has shown a lot of resistance below $ 20,000 at times when conditions were less than ideal, which may provide some reassurance that the worst is over, but I’m not sure. so be it “. “There may be some shocks this year in the markets in general and cryptocurrencies will not be spared there, “he warned.

“While there is still work to be done to recover the losses in the first half, this oneCryptocurrencies like Bitcoin are experiencing a small recoverysaid Simon Peters, an analyst at eToro.

“In terms of activity, we see continued synchronization with the equity markets. Stocks, especially tech and other riskier stocks, rose again in July. Much of the impact of inflation and rising prices seems to have already been discounted and the markets are also bullish on recession fears. “

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According to CriptoNoticias, one of these analysts is PlanB, the same as the stock-flow model that has recently been heavily questioned in the bitcoin world. For PlanB, looking forward to August and September, the $ 30,000 level for the BTC price comes into play. He at least says he won’t be surprised if the move happens, as he commented on Twitter on Monday, Aug.1. In the middle of last month, the analyst predicted that July would close above $ 22,000 per coin after closing June below the 200-week moving average. Now July has closed above $ 23,000

For his part, Spanish trader Immortal Crypto also shared his views on Bitcoin’s near-term future. In his case he was referring not only to the bullish scenario (similar to the one proposed by PlanB), but also to a bearish scenario. As for the possible upside, Immortal identifies a possible range between $ 25,000 and $ 27,000 for the price of Bitcoin in August. Also, maybe a little higher, “he added via Twitter.

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However, the trader warned that the possibility of a further bearish breakout should not be ignored. In fact, I think if it breaks down below $ 21,000, it will likely return to the $ 17,000 area.

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