There is no change in the market’s mood, though the new year has begun. The global crypto market, again in misery, suffers a dip of 1.67% in the previous 24 hours. The total crypto market cap now stands at $2.25 billion.
The top 10 coins were all in red for the same time period with Bitcoin (BTC) is currently trading at $47,276 while ether (ETH) is at $3,830.
BTC Price To Hit $52K by End of Jan 2022
Over the last 24 hours, BTC/USD has moved in a range of $45,811 – 47,568, exhibiting volatility. Trading volume has increased by 50.79 percent, totaling $34.35 billion.
On the 4-hour chart, the $46,000 level is preventing the Bitcoin price from falling any further, implying that the market has already made a higher low.
The $46,000 level is preventing the Bitcoin price from falling any further, implying that the market has already made a higher low.
The $46,000 level is likely to be the new higher low, from which Bitcoin price movement will likely bounce higher in the next few days. The market momentum will turn bullish once a higher high is established over $48,000.
Overall, Price indicators suggest limited downside over the short term as selling pressure slows.
CoinMarketCap’s community is well known for its accuracy in predicting bitcoin price. In the past, the community has been nearly 90.75% accurate. They now predict that the flagship currency will trade at $52K by end of Jan. Overall, 77201 community members expect a minor correction to $51560 in February.
Predictions for first half of 2022
The price of Bitcoin (BTC) is expected to rise in the first half of this year, according to a well-known crypto analyst. The presenter of InvestAnswers informs his subscribers in a new video that Bitcoin is ripe for a huge rise that should occur between March and June 2022.
He said during this bull run, Bitcoin would touch $98,000, but he didn’t expect it would take so long. Between the China embargo and 11 weeks of doldrums, September was a disaster. December has also been a bit of a drag.
Since the beginning of [December], BTC has been playing magnet ball for $47,000.
“Now I do believe we will hit that $98,000… When I look at things like adoption, on-chain metrics, the big money is coming in Q1, the only way is up. And to double is nothing for Bitcoin…”
He anticipates this to happen sometime by the end of March or June.
The host then forecasts that more treasuries will follow MicroStrategy CEO Michael Saylor’s lead and begin buying and keeping big amounts of BTC.
Source: https://coinpedia.org/bitcoin/heres-when-bitcoin-price-will-hit-98k-right-time-to-fill-bags/