Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-analysis-shows-potential-for-growth/" data-wpel-link="internal">Bitcoin Price Analysis Shows Potential for Growth</a> 
Everyone is waiting for the answer to this question: “Is it over?” So, has the decline really ended? The <a href="https://en.coin-turk.com/bitcoin-price-shows-resilience-against-market-bears/" data-wpel-link="internal">BTC</a> chart might provide an answer. We have many motivational details supporting the rise from various aspects. For example, sales in Germany are almost over. Interest rate hikes have ended, and inflation continues to fall. Growth on the employment front has ended. So, will the crypto rise begin? 
<h2 style="text-align: justify" id="current-state-of-cryptocurrencies">Current State of Cryptocurrencies</h2> 
On July 8, BTC started a new attempt, and on July 10, the price reached the $60,000 mark. However, the region has not been surpassed yet. The ongoing demand at lower levels is positive. Since July 5, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> in the ETF channel have made an entry of $650 million. This shows that investors familiar with traditional markets are becoming more risk-tolerant as US stocks rise. 
Germany will soon count another 6,000 BTC, and it is unclear to what extent MTGOX returns will result in sales in the markets. However, the feared rapid sales pace is easing because Germany still holds about 10,000 BTC. According to Glassnode <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, the fear and greed index tested the January 23 low of 27, indicating that we might have reached a real bottom after months of decline. 
If the inflation data coming in a few hours is at or below expectations, we should see relief in crypto as the <a>Fed</a> sees another convincing data point towards its 2% inflation target. However, if inflation is high, the optimism brought by the recently revised downward employment data will be undermined, and the story that there will be no rate cuts this year will gain more traction. 
<h2 style="text-align: justify" id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
The jump on July 8 shows that the support area between $53,485 and $56,552 is strongly defended. The 20-day exponential moving average is at $60,217, and if reclaimed, significant movement in altcoins could be triggered. However, the attempt in the last 24 hours reversed with sales around $59,400, and the price gradually declined, erasing $2,000. 
BTC was hovering around $57,500 at the time of writing. The bears’ current target is to push the price below the defended support area if the inflation data exceeds expectations or the MTGOX FUD is highlighted. This could lead to a drop to $50,000. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-369534 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-grafik-11-temmuz-.png" alt="" width="1547" height="842"> 
If EMA20 is surpassed, a potential attempt towards the 50-day simple moving average at $64,970 will be opened. Thus, the price can focus on the mission of raising the ATH target of $73,777 even higher. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-analysis-shows-potential-for-growth/" data-wpel-link="internal">Bitcoin Price Analysis Shows Potential for Growth</a></h5>

Bitcoin Price Analysis Shows Potential for Growth

Indice dei contenuti

COINTURK NEWS

Altri articoli pubblicati su 10 lug 2024

James Saye: A Bitcoin Success Story Leading to Iceland

BlockDAG Renders $6000 Daily Income With X30 Miner & Countless Revenue Streams, Leaving Solana & ...

Arbitrum (ARB) and Mantle (MNT) Suffer From Bitcoin Chop While Rollblock Continues To Woo Holders...

Cryptocurrency Advice to US President Joe Biden! "You Still Have a Chance!"

BitMEX pleads guilty to Bank Secrecy Act violation

Santa Monica Launches Official Bitcoin Office

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!