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 <p class="is-style-lead">The Bitcoin (BTC) price could potentially dip to the $37,000 region if the orange coin fails to hold its $43k critical support level, according to a fresh <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> shared by crypto <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a> Ali Charts, as key indicators suggest that Bitcoin’s fate still hangs in the balance.</p>
 <h3 class="wp-block-heading" id="key-insights">Key insights</h3>
 <p>Crypto analyst, who goes by @ali_charts on social media, warns of a potential Bitcoin correction, linking it directly to a sustained close below $43,200. This crucial level acts as a litmus test for the market, indicating a bearish turn if breached. But if this support turns out to hold, it could trigger a possible BTC rise towards $47,360.&nbsp;</p>
 <p>Per data from CoinGecko, Bitcoin (BTC) is exchanging hands for $43,780 and has gained 3.40% in value over the last 7 days, with a trading volume of over $12 billion, making clear the level of activity in the market.</p>
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Are you anticipating a #Bitcoin price correction? The first indicator would be a sustained close below $43,200. If this happens, $BTC could be headed towards $37,000.<br><br>However, as long as the crucial $43,200 support level holds, the odds seem to favor the bulls, potentially… pic.twitter.com/ed6Ok4lMjE</p>— Ali (@ali_charts) December 23, 2023
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 <p>Meanwhile, the looming anticipation of the approval of spot Bitcoin ETFs in the U.S., adds another layer to Ali’s <a rel="noopener noreferrer nofollow" title="predict" href="https://thebittimes.com/tag/predict.html">predict</a>ion. As detailed in a recent YouTube video from the CryptosRUs channel, the <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a> believes that this approval could be the trigger for a substantial surge in Bitcoin and the broader crypto market.</p>
 <p>In addition, Matrixport, a reputable source for crypto <a rel="noopener noreferrer nofollow" title="predict" href="https://thebittimes.com/tag/predict.html">predict</a>ions, boasts a track record with two out of six <a rel="noopener noreferrer nofollow" title="predict" href="https://thebittimes.com/tag/predict.html">predict</a>ions already materialized. Their latest forecast <a rel="noopener noreferrer nofollow" title="predicts" href="https://thebittimes.com/tag/predicts.html">predicts</a> Bitcoin reaching $50,000, with historical accuracy strengthening the anticipation surrounding this projection.</p>
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Matrixport(@realMatrixport) predicted that Bitcoin will surge to $50K in January 2024.<br><br>Will this come true?#Matrixport made a total of 6 predictions for $BTC price, 2 of which have already come true.<br><br>On Dec 2, 2022, when the $BTC price was $17K, #Matrixport predicted that… pic.twitter.com/V8el6nnrNE</p>— Lookonchain (@lookonchain) December 21, 2023
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 <p>Matrixport’s journey of predictions includes a successful call in December 2022 when Bitcoin was valued at $17,000. Subsequent forecasts saw Bitcoin surpassing $29,000 on April 11, aligning with their projections.&nbsp;</p>
 <div class="cn-block-related-link">
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Analysts predict Bitcoin surge to $160k by 2024
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 <h3 class="wp-block-heading" id="global-regulatory-developments">Global regulatory developments</h3>
 <p>Argentina’s government recently indicated that it would embrace Bitcoin adoption. Under President Javier Milei’s new administration, the digital asset was approved for use in contractual agreements.</p>
 <p>This move is part of a larger trend across the globe in which governments recalibrate their attitudes toward digital assets.</p>
 <p>For example, on Friday, Dec. 22, the Central Bank of Nigeria lifted its previous prohibition on cryptocurrency transactions — a significant shift in the country’s stance on the burgeoning crypto market in the country.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bitcoin firm above $40K, Michael Saylor says bull run imminent
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-could-still-drop-to-37k-analyst-predicts-tbt74624.html">https://thebittimes.com/bitcoin-could-still-drop-to-37k-analyst-predicts-tbt74624.html</a></p>

Bitcoin could still drop to $37k, analyst predicts

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