Bitcoin

Rekt

Coin

<ul class="news-points"> 
 <li>A crypto analyst argued that Bitcoin could soon be on a path to $37,000.</li> 
 <li>The view stemmed from Bitcoin’s recent closing on the $41K threshold.</li> 
 <li>After a similar retest in 2021 and 2022, Bitcoin dipped below the $40,000 mark.</li> 
</ul> 
Rekt Capital, a famous pseudonymous crypto trader and analyst, has released an analysis of Bitcoin’s next move following the historical trajectory of the firstborn cryptocurrency. The analysis spurs from the recent close-in of Bitcoin in December 2023, retesting a pivotal historical support range.&nbsp; 
In particular, the analyst highlighted that Bitcoin retested the $41,000 mark, noting that the price of Bitcoin produced volatility around the threshold in previous times it entered the range. The periods were in 2021 and 2022.&nbsp; 
Rekt Capital <a href="https://twitter.com/rektcapital/status/1741620993062277180" target="_blank" rel="nofollow">pointed out</a> that following those retests, Bitcoin crashed below $40,000 to $37,354.28 and $37,492.21 in 2021 and 2022, respectively.&nbsp; As a result, the analyst argued that Bitcoin’s recent close toward the $41,000 support may push the prices to the $37,000 range.&nbsp; 
Nonetheless, Rekt Capital characterized the potential significant dip to $37,000 as a healthy correction that could see Bitcoin to a new a…
The post <a href="https://coinedition.com/bitcoin-projected-to-tank-to-37k-amid-historical-support-retest/">Bitcoin Projected to Tank to $37K Amid Historical Support Retest</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Projected to Tank to $37K Amid Historical Support Retest

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