Bitcoin expert predicts that BTC price could reach $25,000 before going down with CoinEdition

• Bitcoin experienced growth after US banks collapsed, breaking the all-time high.
• Short-term strengths were observed, with $20k-$30k serving as resistance and support, according to cryptoanalyst.
• Crypto YouTuber suggests the possibility of reaching $30k, but prices may stall before experiencing a negative move.

According to crypto-analysts, Bitcoin has experienced great growth in recent days following the collapse of several American banks including Silicon Valley Bank. BTC reversed the move from $25,000 to $19,000s and has now broken the all-time high.

Crypto expert and YouTuber AltcoinSherpa said he expected BTC to be in the $25,000 high and $15,000 low range. However, deviations on both ends up to $35,000 to $13,000 were expected by the creator. He added:

Bitcoin looks very strong in the short term.

While Bitcoin rose above $25,000 in its latest sprint, the crypto’s 200-day EMA served as resistance before the price broke down. However, BTC’s value is back on the mark again at the moment.

Bitcoin level analysis; reach $25k prediction; Source: Screenshot from Altcoin Sherpa Youtube Channel

The cryptoanalyst also declares the $20k to $30ka resistance area for the coin since it served as support in 2021, forming the “early summer 2021 bottom” for Bitcoin. Still, if BTC can break through the $25k range, there are chances to hit $30k next.

AltcoinSherpa shares that there is a possibility that 2023 could be similar to 2019 where prices went from $3k to $14k before dropping 50%. Likewise, prices could stall $30k years before BTC hits a negative 50% move, closing at about $14k.

The analyst also adds that prices will fluctuate depending on inflation rates and the Fed’s decision to raise interest rates. Also, there are heavy volume transactions at levels between $30k to $40k which will further affect the values.

Disclaimer: The views, opinions and information shared in this price forecast are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.

The post Bitcoin Expert Predicts BTC Price May Hit $25,000 Before Going Down appeared first on Coin Edition.

See the original at CoinEdition

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