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Experts’ Opinions on Bitcoin Price Fluctuations

Experts' Opinions on Bitcoin Price Fluctuations
  • Experts’ Views on Bitcoin’s Price Move

Many major BTC analysts have expressed their thoughts on possible price moves as the BTC price dropped by 6.9% over the last 24 hours and traded below the $37K mark.

No Imminent BTC Price Crash – Impulsebull

On Twitter, an analyst going by the handle Impulsebull predicted that if BTC breaks below the 100-day moving average on the weekly chart, it will return to the 200-day MA. The chance for purchasers to gain a foothold in the market will arise if this occurs.

On the weekly chart, the BTC price stands at $37.54K, which corresponds to the 100-day MA. As a result, it may appear that the price at which the 200-day MA is located ($21.99K) is quite a long way away. In addition, he believes that unless BTC price goes below the 100-day MA of the weekly, a dramatic BTC price collapse is unlikely. Chart.
Micheal van de Poppe, a top Cointelegraph crypto expert, believes that BTC will hold at the $37K support level despite today’s dramatic downturn.

  • A Different Point of View

According to Ali Martinez of CoinDesk, the 200-day MA of the 3-day chart shows that BTC has already struck its first support level at $37K. As for BTC’s current price, Ali wasn’t confident it would last. If the market would not favor the top cryptocurrency, he predicted that BTC would trade below the $34K barrier. As a result, the $33.5K level would act as a support for BTC.
According to Ali, BTC may trade below the $34K mark, but he doubted it would rise beyond the $28K mark. According to a tweet from credible crypto, the price of BTC is supported at $28,000. According to a well-informed analyst, however, the sub-$34K level would act as strong support for BTC and require significant effort on the part of the bears to be breached.

  • The Price of Bitcoin in 2022

The cryptocurrency market has been flooded with predictions from a variety of analysts. But many believe that BTC is a good inflation hedge and will return to its bullish trend soon. The analysts’ projections are likely to hold even though some Bitcoin supporters have been unduly enthusiastic with their Bitcoin price predictions because they are the ones that first consider technical and fundamental analyses.

Most of the prognosticators are basing their forecasts on their emotions. Nayib Bukele, the president of El Salvador, recently projected that the Bitcoin price would hit $100K by the end of the year.

It’s still early in the year, yet Bukele’s forecasts are not even close to being accurate. As a result, Bitcoin’s value has fallen by over 46% from its November high of $69,050. Following Russia’s invasion threat, the BTC and crypto market’s expected rise has been hindered.

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