Dynamic

Bitcoin

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Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-forecast-and-market-expectations/" data-wpel-link="internal">Bitcoin Price Forecast and Market Expectations</a> 
BTC price has been hovering below $43,000 for a while and quickly retreated from the $49,000 threshold. Although Spot BTC ETF volumes are not bad, the high profitability has been signaling a decline on the on-chain side throughout the week. So what is expected at this stage? What awaits investors in the coming days? 
<h2 style="text-align: justify" id="will-bitcoin-fall-against-the-dollar">Will Bitcoin Fall Against the Dollar?</h2> 
The king cryptocurrency is still on an upward trajectory but is currently experiencing a price correction. The 50-day exponential moving average helped the bulls restrain the decline at the $42,120 region. However, there is a noticeable lack of demand as the RSI fluctuates in the neutral zone. Monday was a public holiday in the US, and the cumulative trading volume in crypto markets dropped by 50 percent. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-302320 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/Bitcoin-Fiyat-Tahmini-14-Ocak.png" alt="" width="1200" height="591"> 
Since the RSI has been creating lower peaks, a continuation of sales is likely. The first signal for a move that could trigger overselling could come with closures below $42,120. If the BTC price drops below the 50-day EMA, the current trend could target a maximum drop to $34,850. 
While the price consolidated in the last quarter of the previous year, BTC had lingered in this region but has not visited it for a long time. 
<h2 style="text-align: justify" id="bitcoin-predictions">Bitcoin Predictions</h2> 
Popular cryptocurrency analysts like Crypto Poseidonn highlight that the $25,000-$30,000 region is an important accumulation range, suggesting that overselling could continue down to there. Experts like Capo, who have been unsuccessful lately, are also focused on the same target. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-302321 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/Crypto-Poseidonn-BTC-Tahmin-scaled.jpeg" alt="" width="1200" height="755"> 
Another analyst, Rhaonnor, suggests that the market has already priced in the ETF news and we could see a drop to as low as $24,000. According to the analyst, the priced-in rally will lead to a bottom in the $24,000-$30,000 range. However, if spot <a href="https://en.coin-turk.com/bitcoin-analyst-warns-of-potential-decline-as-btc-faces-selling-pressure/" data-wpel-link="internal">Bitcoin</a> ETF volumes remain strong, this possibility could weaken. 
Lucas Kiely, Chief Investment Officer at Yield App, and Christos Makridis, founder/CEO of Dynamic <a href="https://newslinker.co/category/ai/" data-wpel-link="exclude">AI</a>, are much more optimistic. According to them, we should see a new peak in the $50,000-$60,000 range. 
<blockquote> 
 “We will see a small pullback, but it won’t be as devastating as feared. It may take some time to exceed the $50,000 threshold. However, with the halving in June, the price will target higher levels.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-302322 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/BTC-Boga-Flamasi.png" alt="" width="1200" height="590"> 
Bitcoin’s dominant bull flag formation also indicates the continuation of the uptrend. The target of the formation is at $56,200. To achieve this, we may need to see more, such as spot Bitcoin ETF-backed retirement funds. If companies integrate ETFs quickly, this will sustain the volumes at high levels. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-forecast-and-market-expectations/" data-wpel-link="internal">Bitcoin Price Forecast and Market Expectations</a></h5>

Bitcoin Price Forecast and Market Expectations

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