Future

Bitcoin

when

Green

Captain

<p>The post <a href="https://coinpedia.org/news/bitcoin-bulls-eye-70k-why-the-crucial-58k-support-matters/" rel="noopener noreferrer nofollow">Bitcoin Bulls Eye $70K: Why the Crucial $58K Support Matters?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>At a time when the crashing of the price of Bitcoin is creating shocking headlines, a crypto analyst has come up with a positive observation about the future of Bitcoin. The observation is sending a feeling of hope to Bitcoin traders and investors.&nbsp;</p>
<p>Let’s see what a crypto expert has to say about the future prospects of Bitcoin. Do we really need to worry about the fall of the price of <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> to around $58,000?&nbsp;</p>
<h2 class="wp-block-heading" id="h-bitcoin-market-landscape-an-analysis-nbsp">Bitcoin Market Landscape: An Analysis&nbsp;</h2>
<p>At the time of writing this news story, the price of Bitcoin stands at $58,857. The daily chart of Bitcoin shows three consecutive red candlesticks, indicating increasing selling pressure. In the last seven days, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> has seen a fall of around 3.6%. On June 28, the price was around $60,315. Over 14.7% dip has been witnessed in the last 30-days. On June 5, the price was as high as $71,095, which was the peak of that month. In the last 24 hours alone, a fall of 4.5% has been observed. Last day’s closing price was nearly $60,135. Will the price go below the $58,000 mark is the big question now.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" width="1600" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85.png" alt="" class="wp-image-322688" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85-1024x576.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85-1536x864.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2024/07/04152857/image-85-150x84.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
<h2 class="wp-block-heading" id="h-the-future-of-bitcoin-expert-s-view-nbsp">The Future of Bitcoin: Expert’s View&nbsp;</h2>
<p>A crypto expert, identified as Captain Faibik, in a post in X, suggests that if the present support level of $58,000 holds, the price of Bitcoin could bounce back soon. His post indicates that the crypto expert is optimistic about the future of Bitcoin. It concludes with a prediction that the Bitcoin price would reach $70,000 by the end of July.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> is Still Moving inside the Green box..!!<br><br>Bulls are Defending the Crucial Support (58.8k) &amp; Bitcoin Could Bounce Very Soon. <br><br>I am still bullish and expecting 70k by the end of July.<br><br>Be Patient..<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f90d.png" alt="🤍" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://t.co/jkYuh9T2w2" rel="noopener noreferrer nofollow">pic.twitter.com/jkYuh9T2w2</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1808723329110659279?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-bitcoin-historic-trend-analysis-nbsp">Bitcoin Historic Trend Analysis&nbsp;</h2>
<p>In the same month previous year, what we saw was a sideways market. The price was oscillating between $31,470 and $29,150. The one day chart of Bitcoin for the month of July, 2023, shows very small red and green candlesticks, indicating close competition between sellers and buyers.</p>
<p>In short, the observation of the crypto expert about the future of the price of Bitcoin has enough indications that a Bictoin trader will benefit, if he stay patient, showing confidence in the potential recovery of the market.&nbsp;</p>
<p>Read Also: <a href="https://coinpedia.org/news/why-crypto-market-is-down-today-here-are-top-5-reasons/" target="_blank" rel="noopener noreferrer nofollow">Why Crypto Market is Down Today? Here Are Top 5 Reasons</a></p>

Bitcoin Bulls Eye $70K: Why the Crucial $58K Support Matters?

Table of Contents

CoinPedia News

Другие статьи, опубликованные 4 июл. 2024 г.

Justin Sun Offers to Purchase Germany’s $2.3B Bitcoin Reserve

Judge Fines Oregon Man with $120 Million in Crypto Fraud Case

Bitcoin To Bounce Back? Analyst Predicts $90,000 After $58K Drop

Optimism (OP) Set for Possible Recovery as Price Hits December 2023 Lows

How to Sell Bitcoin on Coinbase: A Step-by-Step Guide

Basel Committee Finalizes Crypto Banking Framework

Join our free newsletter for daily crypto updates!