At the time of writing, BTC is being traded at the price of $57,980. The price of BTC has increased by almost 5.52% in the past 24 hours. The daily trading volume has also increased by almost 32.36% in one day. BTC is listed on coinmarketcap at 1st spot according to market capital (the one true king of the market) and has a market dominance of about 42.03%.
BTC before the crash had achieved its all-time high around the price of $64,895 in April 2021. During the crash, the price of BTC touched a bottom of $28,600 during the month of June 2021. After this, the price showed reversal and went to achieve a new all-time high around the price of $69,000.
BTC has a total supply of 21M coins and has a circulating supply of about 18.8M tokens. BTC can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.
Technical Analysis – Bitcoin
Before the drop of Bitcoin (BTC) from all-time high, people were expecting it to crack the 70k, but the number was a strong zone to crack and quickly resulted in the fall of the market. Now the market is trading in the $50s and we can expect it to drop even more to the $40s.
It can be seen that the market has been bouncing from $53k support. In the past, it had stayed there for a while before moving to the all-time high. We can expect the market to touch the $63k zone before it falls down to the 40s as a move of fake-out. But this is only one possibility and a lot more can change in a matter of minutes. So lower time frame confirmations are important. Possible zones to watch out for are $49k, $53k, $58k, $62k.
Long Term Price Prediction – Bitcoin (BTC)
Before the drop of BTC from $69k. People were expecting the price of BTC to touch the value of $100k before the end of the year. Now after the drop-down to $52k, a lot of those speculations have vanished. A lot of people are still eying for BTC to break the all-time high and touch the zone of $80k but it seems that it has become difficult right now with the way price has been reacting
