Bitcoin New Prediction: BTC Faces A “Bounce Or Die” Scenario
The crypto market looks pretty good today with a lot of coins trading in the green.
Bitcoin is no exception, and at the moment of writing this article, the king coin is trading in the green as well, and it’s priced at $9,066.57.
There’s a popular crypto analyst that said that BTC is now facing a do or die scenario after the king coin was rejected by a key level.
The strategist mentioned by the online publication the Daily Hodl said that bulls have to hold one last line of defense. If they fail, he said that the Bitcoin sentiment will turn bearish.
4h was rejected from resistance of cloud ( 200 ema )
— Teddy (@TeddyCleps) July 2, 2020
The same online publication mentioned another trader known as Ethereum Jack who said that the end is not here for the bulls yet. He’s usually offering bullish and bearish scenarios depending on the way in which BTC performs in the short term.
Here’s his prediction:
iHS when confirmed targets 9800, confirms daily close > 9300
Break support and 8500 is next demand region, but I think it’ll break lower to mid 7000’s
Any daily close above 10050 = full steam ahead
June momentum has been a slow bleed on spot premium = favours bulls pic.twitter.com/vTngqR56fu
— //Ethereum ack (@BTC_JackSparrow) July 3, 2020
Bitcoin and crypto adoption
In other news, we revealed that the mass crypto adoption is one of the main goals that the crypto industry has, and it’s been going great.
Just the other day, it was reported that a new study commissioned by the Financial Conduct Authority (FCA) the UK’s financial regulatory body reveals that almost two million people in the UK own cryptos.
This survey shows that 1.9 million people in the UK aka 3.86% of the adult population, own Bitcoin (BTC) and other cryptos.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.