It’s been just revealed the fact that Bitcoin is flaunting massive opportunities for the bulls. Check out the latest price prediction about the king coin;’s price below and see what we can expect from the new ATH.
BTC new price prediction
According to experienced trader Tone Vays, the recent correction in Bitcoin’s market price is presenting an opportunity for bullish investors to purchase the leading crypto at reduced rates.
During a recent strategy session, Vays updated his 123,000 YouTube followers on the recent dip in Bitcoin’s value. He believes that the drop is largely due to news-related factors. Specifically, Vays suggests that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance and its CEO, Changpeng Zhao, has caused anxiety among investors.
“I still think this is a good buy-the-dip situation. This drop was a news-related event, and people just panicked a little bit because the SEC has joined the case.”
After the correction, Vays suggests that Bitcoin’s daily chart has turned bearish since it’s currently trading below a significant moving average.
“The daily chart is looking very, very ugly. We have broken the 128-day moving average. This is one of my favorite moving averages. I don’t like the fact that we broke it.”
Vays continued and said this:
“If we go back above this moving average in the next 24 hours, then it will not matter. But if we don’t, there is some horizontal support at $25,000. Other than that, you have the long-term moving average at $23,500.
I would be surprised, I would be very surprised if we fall below $25,000.”
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green and the king coin is priced at $26,433.
In other news, Binance, the world’s largest cryptocurrency exchange, and its CEO have been sued by the U.S. Securities and Exchange Commission (SEC) for multiple violations of securities laws and other alleged offenses.