Prime

Bitcoin

Rise

Bitcoin experienced a sharp decline on Monday, falling below $50,000, but has made a rapid recovery in the last two days, rising above $60,000.
Now, while questions are on minds such as “Will Bitcoin continue its rise? Or was this rise a trap? Will the price fall again?”, analysts shared their expectations.
Speaking to Coindeks, FxPro senior market analyst Alex Kuptsikevich said that Bitcoin bulls are gaining momentum but they need to pass $61,800 clearly for the rally to be confirmed.
<blockquote>
 “A weekly close above $61,800 in Bitcoin would attract buyers and could prompt its price to rally rapidly toward $67,000.
 However, failure to pass this level and a possible pullback would see the price return to its July and August lows around $55,500.
 “In addition, $61,800 marks the point where the 50- and 200-day simple moving averages meet, and this level appears to be a critical level for the continuation of the rise.”
</blockquote>
<h2 id="bitcoin-s-rise-depends-on-geopolitical-issues-and-the-fed">Bitcoin's Rise Depends on Geopolitical Issues and the FED!</h2>
Apart from Kuptsikevich, analysts from investment consultancy firm Two Prime also announced their BTC expectations. In a note sent to clients, Two Prime analysts stated that they expect an increase in Bitcoin, and said that the rise in BTC depends on geopolitical issues and FED policy.
<blockquote>
 “We continue to watch $54,000 as a major support area for Bitcoin, followed by $50,000.
 So far these levels have worked well and every time Bitcoin has reached this area there has been persistent buying demand.
 “We now wait to see if the Israel/Iran conflict escalates and if the US government takes steps to reduce risks, both in the geopolitical arena and in the Fed's monetary policy, for Bitcoin to rally.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analysts-explained-bitcoin-btc-investors-should-follow-this-level-and-these-events-for-an-increase/" rel="noopener noreferrer nofollow">Analysts Explained! Bitcoin (BTC) Investors Should Follow This Level and These Events for an Increase!</a>

Analysts Explained! Bitcoin (BTC) Investors Should Follow This Level and These Events for an Increase!

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