Bitcoin Price Prediction – Can It Hit $35k? Wall Street Memes Could Also Explode

Bitcoin ($BTC) has been soaring this week, with the coin breaching the $30,000 level for the first time since mid-April.

Various factors have contributed to Bitcoin’s surprise surge – with bulls now deliberating whether $BTC can hit the fabled $35,000 region in the near future.

However, it’s not just Bitcoin that’s showing tremendous momentum, with several altcoins also benefiting from the positive contagion effect.

Bitcoin Poised for Further Breakout After Breaching $30,000

At the time of writing, Bitcoin is hovering just above the $30,000 level, which has proved to be a strong psychological barrier in the past two months.

The last time Bitcoin traded above $30,000 was in April – yet the break was only fleeting, and price immediately retraced to $27,500.

$BTC bulls will be hoping a different scenario plays out this time, given the strength of the ongoing bullish momentum.

From a technical perspective, Bitcoin has recently surpassed the 20-day and 50-day Exponential Moving Averages (EMAs).

Moreover, the coin rejected the vital 200-day EMA as support last Friday – providing the fuel for this week’s upwards push.

Data from CoinGlass reveals that the 24h short volume for $BTC derivatives has dropped by 52%, indicating that many traders are closing out their short positions.

This has led to a mini “short squeeze,” forcing the coin’s price higher.

These elements combine to make a push towards $31,000 the most likely scenario, a mere 3% rise from the current $BTC price.

There’s likely to be a high degree of sell orders at this level, which could cause some minor consolidation – yet if Bitcoin can breach and close above, there’s a clear path back to $35,000.

Analysts Weigh In on Bitcoin’s Price Potential

While the technicals point to a breakout above $30,000, it’s also important to cover what analysts say about Bitcoin’s prospects.

Naturally, analysts’ opinions are shaped by ongoing news events – most notably, the recent uptick in institutional interest in Bitcoin.

This was evidenced by BlackRock’s decision to file for a spot Bitcoin ETF in the US, immediately followed by applications from WisdomTree and Invesco.

Alongside this, ARK Invest CEO Cathie Wood also reiterated her bullish stance on Bitcoin – estimating that the coin could hit $1 million in the future.

Wood’s bullishness, combined with the growing number of spot Bitcoin ETF filings, has prompted some positive predictions from the analyst community.

In an interview with CoinDesk, FxPro senior market analyst Alex Kuptsikevich highlighted that Bitcoin has now broken a crucial two-month trendline – setting the stage for a push to $30,400.

This sentiment was echoed on Twitter by prominent crypto analyst Ali, who stated that Bitcoin is now heading into the “Hope” stage of the market cycle.

With the technicals pointing to a break above $30,000 and analysts bullish on Bitcoin’s prospects, the coin is undoubtedly worth keeping an eye on in the coming days.

Which Other Coins Are Showing Bullish Momentum?

While Bitcoin is the coin that’s making the most headlines in the market, several other coins are showcasing bullish momentum.

Two of these coins are Wall Street Memes and yPredict, which have gained immense popularity through their respective presale phases.

Wall Street Memes’ Phenomenal Presale Success Sets Stage for Price Surge

Wall Street Memes ($WSM) is a unique venture in the crypto-sphere that embodies the spirit of Reddit’s battle against Wall Street in 2021.

Harnessing this spirit, Wall Street Memes’ team has created a community-driven token called $WSM that reflects the defiance of those who stood up against Wall Street norms.

Currently, $WSM is available to purchase through a 30-stage presale phase, which has already raised an incredible $9.6 million in just one month.

$WSM tokens are priced at $0.0298, a discount relative to the planned exchange listing price.

Investors are piling into the presale to snag themselves some tokens, mainly due to the colossal nature of the Wall Street Memes community.

This community comprises over 1.1 million people on social media – with an audience of more than 531,000 on Instagram alone.

The size of this community is expected to play a massive role in $WSM’s future price growth, with early investors hopeful that the token can mirror the success of previous community-backed meme coins.

Ultimately, Wall Street Memes’ community-centric values and clever marketing have solidified it as an exciting prospect in the crypto market – with anticipation building as investors await exchange listings later this year.

Visit Wall Street Memes Presale

yPredict Popularity Reaches Fever Pitch During Highly-Successful Presale

Another project that’s been gaining traction recently is yPredict ($YPRED).

yPredict is a crypto analytics platform that uses artificial intelligence (AI) to provide users valuable insights into the crypto market.

Per yPredict’s whitepaper, the platform offers a variety of features, including AI-driven price forecasts, automated chart pattern recognition, social media sentiment analysis, and advanced technical indicators.

yPredict users can also access state-of-the-art prediction models developed by machine learning (ML) professionals via a monthly or annual subscription.

Subscription fees are paid in $YPRED – yPredict’s native token.

Like Wall Street Memes, yPredict has recently attracted massive attention from the trading community, leading to over 29,000 people joining the project’s Telegram channel.

The project’s presale is now in Stage 6 out of 8, meaning early investors have a small window to purchase $YPRED tokens for just $0.09 – 33% lower than the planned CEX listing price.

Visit yPredict Presale