There are all kinds of prediciotns about the price of Bitcoin these days, and most of them are really optimistic. Check out the latest reports about the price of BTC below.
Bitcoin to see volatile times ahead
It’s been just revealed that a popular crypto trader says Bitcoin’s (BTC) current value of $23,571 offers potential promise for the future.
Pseudonymous crypto analyst Rekt Capital said recently that BTC’s weekly close over $23,400 is a promising sign for the king crypto.
“BTC has managed Weekly Close above ~$23,400 which offers potential promise
For a chance at upside, it’s crucial that BTC holds $23,400 as support
Because in August 2022, BTC failed its retest and dropped back into the blue-blue range
Key retest is in progress.”
He also made sure to address another encouraging sign from the leading crypto by market cap. According to the analyst, a new lower high has developed on the trading charts.
“A new BTC Lower High has developed
BTC is struggling to press past it for the time being
At the same time, BTC still holding the Monthly ~$23,400 level as support (blue)
These two levels are causing price compression, so a volatile move should take place soon.”
There are all kinds of optimistic predictions about the price of Bitcoin these days, and they are definitely worth checking out.
Willy Woo addresses Bitcoin accumulation
According to the latest reports, it seems that the popular on-chain analyst Willy Woo thinks institutions could be the driving force behind the recent Bitcoin (BTC) rally.
Woo said recently that the BTC rally coincides with a new pattern of billions of dollars worth of stablecoins flowing onto exchanges “during work days only.”
“Seems to me like the heat signature of large institutions doing the buying. Timing of the inflows spans approximately 16hrs, with the quiet zone being Asian work hours. This suggests it’s Western institutions across US and Europe.”
Woo also said that spot market flows have been dominating the rally rather than derivatives.