• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    XRP holders

    XRP holders suffer $15billion in damages due to SEC’s action, Ripple reports

    Bitcoin price

    Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

    Crypto startups

    Crypto startups to get $200M investment fund from Crypto.com

    Crypto insurance

    Crypto Insurance: $2million raised by Unslashed Finance for insurance project

    Ethereum

    Ethereum Price Prediction: Can ETH breakout of $1600?

    Uniswap price prediction

    Uniswap price prediction: Uniswap to reject further upside at $27

    Dogecoin

    Dogecoin becomes the most popular cryptocurrency

    Digital Yuan

    Biggest digital Yuan trial to be rolled out in Chengdu, China

    Litecoin

    Litecoin Price Prediction: LTC eyeing $200 breakout

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    XRP holders

    XRP holders suffer $15billion in damages due to SEC’s action, Ripple reports

    Bitcoin price

    Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

    Crypto startups

    Crypto startups to get $200M investment fund from Crypto.com

    Crypto insurance

    Crypto Insurance: $2million raised by Unslashed Finance for insurance project

    Ethereum

    Ethereum Price Prediction: Can ETH breakout of $1600?

    Uniswap price prediction

    Uniswap price prediction: Uniswap to reject further upside at $27

    Dogecoin

    Dogecoin becomes the most popular cryptocurrency

    Digital Yuan

    Biggest digital Yuan trial to be rolled out in Chengdu, China

    Litecoin

    Litecoin Price Prediction: LTC eyeing $200 breakout

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Bitcoin price prediction: BTC shaky for $38500, analyst

Johnson Go by Johnson Go
January 18, 2021
in Bitcoin News
3 min read
Bitcoin price prediction BTC shaky for $38500, analyst
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

TL;DR Breakdown

  • Bitcoin price prediction expects a rise to $38000.
  • If Bitcoin loses crucial support it can fall down to $25000.
  • Strong resistance currently lies at the $36500 mark.
  • Strong support currency lies at the $35000 mark.

The bullish momentum appears to have toned down for the king of cryptocurrencies and it has dropped lower with indications that the drop can continue further. As for the past 24-hours, Bitcoin peaked at $36,700 while the 24-hour low was found at $33,960.

At the time of writing, Bitcoin is priced at $35,739. Bitcoin price saw a 1.97 percent downturn in the past 24 hours, while the market capitalization amounts to $653.247 billion and the trading volume amounts to $52.36 billion.

RelatedPosts

Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

Bitcoin price now above $51,000

Bitcoin price prediction: Bulls buy the dip to push BTC/USD past $50k

Bitcoin price could rally up to $50,000

Bitcoin price prediction: BTC shaky for $38500, analyst 1
Bitcoin price chart by Trading View

The market sentiment for the cryptocurrency is still majorly bullish. Out of the 28 technical indicators, 13 are giving out a buy signal with nine neutral and six sell indications. Eight of the 11 oscillators are neutral with two buy indications and one sell indication. 11 of the moving averages stand at buy whereas five are at sell with one neutral indication.

Bitcoin price prediction: What to expect? 

Analyst Vince Prince has identified various important structures in his Bitcoin price prediction and per the analyst, the upcoming Bitcoin price actions will prove to be crucial for its future trajectory. Prince states that Bitcoin is developing a reverse head & shoulder (H&S) formation and a major decision zone will clarify whether Bitcoin will break out towards the upside or down from the formation. The analyst furthers the exponential moving average EMA-30 – in red – is acting as strong resistance for Bitcoin and the next important EMA, the EMA-140, lies on the neckline of the H&S formation.

Bitcoin price prediction: BTC shaky for $38500, analyst 2
Bitcoin price prediction by analyst Vince Prince

Prince furthers that if Bitcoin breaks out downwards at the decision zone, it will enter a C-wave extension zone where it can go as low as $25,100 before it finds stable support. On the flip side, an upwards break out will indicate the cryptocurrency moving towards $38,500, where it will encounter strong resistance. Prince suggests that patience must be practiced, and trades should be based on the right confirmation as a false bearish or bullish confirmation can result in huge losses.

Bitcoin price plunge stirring questions

Bitcoin’s all-time high at $41,000 at the beginning of the year led to various Wall Street giants investing in the king of cryptocurrencies. The rally was headed by MicroStrategy, which invested $425 million, amounting to up to 85 percent of its cash reserves. Others such as Square and Miler Ventures followed suit.

All seemed well as long as Bitcoin was performing well but the cryptocurrencies are unforgiving, especially the king. A plunge of 25 percent from the all-time high put Wall Street companies that had invested a huge sum in the cryptocurrency in a precarious position. It is a known fact that cryptocurrencies are high-risk and high-reward assets, despite what the Bitcoin price predictions may have in the store. What is, then, the viability of investing a company’s cash reserves in such an asset?

Although some investors remain undeterred as the cryptocurrency’s long-term potential is more than good as per various Bitcoin price predictions. But the dive has, nonetheless, raised questions. It is not only the infamous price volatility of the cryptocurrency but factors such as susceptibility to hacking, fraud, and the ever-present threat of tightened regulations that also need contemplation. Investing cash reserves in Bitcoin can be a smart strategy but at what cost?

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Tags: cryptocurrency trading
Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

Related Posts

Bitcoin price
Bitcoin News

Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

March 5, 2021
Bitcoin price
News

Bitcoin price now above $51,000

March 3, 2021
Bitcoin price prediction Bulls buy the dip to push BTCUSD past $50k
Bitcoin News

Bitcoin price prediction: Bulls buy the dip to push BTC/USD past $50k

March 3, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

XRP holders

XRP holders suffer $15billion in damages due to SEC’s action, Ripple reports

March 5, 2021
ETH/USD price analysis

ETH/USD Price Analysis: ETH/USD Should Break Above $1500 Target on Its Way Past $2,000

March 5, 2021
Bitcoin price

Bitcoin Price Prediction: BTC drops below $50,000 as Wall Street bleeds

March 5, 2021
Crypto startups

Crypto startups to get $200M investment fund from Crypto.com

March 4, 2021
Crypto insurance

Crypto Insurance: $2million raised by Unslashed Finance for insurance project

March 4, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 3

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.