According to experts, if the first cryptocurrency can step over $ 80,000, it will continue to grow and reach the next level of resistance of $ 96,000. Analysts explained that during a recent bull trend, these levels acted as price support, but if Bitcoin does not continue to grow, they will become price resistance. A similar situation was in previous bear cycles, noted in Cryptoquant.
Bitcoin is now trading above $ 81,050. Its trading volume has decreased by almost 42% per day – to $ 44.75 billion, and market capitalization amounted to $ 1.6 trillion. April turned out to be unstable for Bitcoin – at the beginning of the month US President Donald Trump increased trade duties for almost 200 countries, which caused fluctuations in financial markets. Trump later announced a 90-day suspension of duties for all countries except China, thereby softening a bearish impulse.
General Director Abra Global Bill Barhydt suggestedwhich can take several months before the bitcoin exchange rate rises almost 29% higher than the historical maximum of $ 109,000, set in January. As Barkhidt put it, Bitcoin is a bet with a credit shoulder on technological shares, and they all grow. According to his forecast, by the end of June, the first cryptocurrency can grow to $ 130,000 to $ 140,000.
In March, Cryptoquant General Director Ki Young Ju said that Bitcoin’s bull -clicking cycle has already ended, and with a decrease in fresh liquidity, new large owners of cryptocurrencies sell it at lower prices.
Source: Bits
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