Kataryna Habeliia December 9, 2020
Table of Contents [hide]
- 1 “Bitcoin will drop to $14 thousand.” What to watch for cryptocurrency holders
- 1.1 First opinion
- 1.2 Second opinion
- 1.3 Third opinion
“Bitcoin will drop to $14 thousand.” What to watch for cryptocurrency holders
BTC has been trading near $ 20,000 for several weeks, but it cannot overcome this level. This is one of the reasons why a sharp decline in the price of the coin is likely. Analysts told what price levels are important for traders.
The bitcoin rate may fall from the current value of $ 19.2 thousand to $ 16 thousand, and then to $ 14 thousand, warned the analyst of the Amsterdam Stock Exchange Michael van de Poppe. He explained that the price of the cryptocurrency for several weeks has not been able to overcome the resistance level of $ 20 thousand. This makes a strong decline in BTC quotes likely since they dropped below $ 18.9 thousand.
“We are still in a zone of strong resistance. I’m still expecting the $ 16K level we bounced off last time, and the $ 14K level. These areas can be retested as support. It is important to keep $ 19 thousand, and if the day trading closes below $ 18.9 thousand, I think we will fall, ” — Poppé suggested.
The risk of an imminent decline in the rate of the first cryptocurrency was also warned by the analyst of the NewsBTC portal Ayash Jindal. He believes that it is important for BTC to stay above the $ 19 thousand marks. If this does not work out, quotations will fall to 18.5 thousand.
But the chances for growth remain, Jindal said. According to him, to return to the upward trend, the coin needs to rise above the resistance level of $ 19.35 thousand. But even after this, the rise in the price of the coin will be hindered by the marks of $ 19.5 thousand and $ 19.58 thousand.
Ollie Leach, an analyst at the Cryptopotato portal, is confident that bitcoin will move strongly within 48 hours, as the coin has been trading in a narrow range in recent days. But now it is difficult to predict what exactly will happen to the price of a coin. If it breaks the level of $ 19.55 thousand, growth may continue to $ 20.35 thousand.
On the contrary, there is a risk of a sharp drop to $ 17.81 thousand, added Leach. According to his forecasts, this will happen if the price of bitcoin drops below the support zone of $ 18.8 thousand — $ 18.9 thousand. In this case, the levels of $ 18.60 thousand and $ 18.27 thousand will prevent a strong decline.
In late November, Brian Kelly, CEO of BKCM LLC, warned about the risk of an imminent decline in the price of BTC. He is confident that the coin rate could fall to $ 12 thousand. This is supported by the sudden rise in the price of altcoins, a significant number of open long positions, and a significant influx of new users into the industry.
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