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The crypto community shared its Bitcoin forecasts

Ahead of the release of US consumer price index (CPI) data that could set the direction for the digital asset market, crypto community members have shared their Bitcoin forecasts.

We tell you what investors expect from the most capitalized cryptocurrency in the near future.

Thursday began with news of $147 million inflow into spot Bitcoin ETFs. Despite the positive dynamics, BTC continued to decline. One of the factors of pressure on the cryptocurrency was the sell-off by the German authorities. Arkham believes that the negative impact of the sales is mitigated by Blackrock, the issuer of one of the largest spot Bitcoin ETFs.

The opinions of crypto community members on what awaits BTC in the near future are divided. Analyst Doctor Profit remains optimistic. According to his observations, Bitcoin is close to a strong support level, from which the cryptocurrency will be able to push off and start growing. A return to the maximums, according to the analyst, is possible by September 2024.

With the view that Bitcoin is on the verge of growth, agreed trader Captain Faibik. According to his calculations, the cryptocurrency needs to consolidate above $60,000 to confirm the resumption of growth.

There are also those who believe that Bitcoin is not yet capable of resuming its growth. Trader Nebraskangooner assumedthat in the near future the cryptocurrency may again fall below $55,000.

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Source: Cryptocurrency

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