Last week, Bitcoin price bottomed out at around $19k and $20k. Currently, the support looks strong and can pull down BTC even below.
The currency started September by trading at $20,049, and since then, the currency has been on a rollercoaster ride of sorts. On September 13, Bitcoin hit $22,781 before making a steep fall of 20.34%. However, at present, Bitcoin is trying to find its stance as the currency is selling at $19,469 after a minuscule surge of 0.02% over the last 24hrs. This upward movement by the lead cryptocurrency has pushed the entire market to trade in the green.
Bitcoin Price Near $24k?
Among many experts putting out their opinions, one of the well-known market analysts, Michael van de Poppe, claims that if BTC maintains its price action above $19,000 or manages to reclaim the $19.3k level, the currency will see some positive price movements.
As bitcoin is now trading above $19.4k, the analyst’s prediction might turn out to be true.
Meanwhile, another analyst- Josh Rager- claims his bullish stance towards Bitcoin and says BTC will move north and hit a target of $21k or even higher at $24k.
Even the analytic firm Santiment’s report suggests that while S&P 500 has dropped by 2.4%, Bitcoin and Ethereum are maintaining their trend opposite to stocks. This non-correlation segment is positive news for the industry.
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Source: https://coinpedia.org/bitcoin/bitcoin-price-to-witness-a-bull-run-soon-but-only-under-these-conditions/