Bitcoin (BTC) did not have the best week and managed to lose about $1,000 of its value.
At the moment of writing this article, BTC is trading in the green on CMC, and it’s priced at $9,596.76.
BTC’s price will climb up in a week
According to veteran crypto commenter John McAfee, BTC had a tough week because the US has been putting pressure on BTC. He says that the price will climb back up in about a week.
A few days ago, McAfee addressed BTC. The price of the most important digital asset has been looking more red than green and the man believes that the US has been responsible for this.
Cryptopotato pointed out at the fact that according to McAfee:
“Bitcoin is under pressure from the U.S. and its price reflects it. But the U.S. has no real power in controlling CryptoCurrency. Just watch. A week from today Bitcoin will continue its meteoric rise.”
As you can see, he believes that the US does not have the power to control crypto but he thinks that a BTC bull run will be resuming in about a week.
McAfee has been just released from confinement.
Leaving detention (don't judge my looks – four days of confinement). I was well treated. My superiors were friendly and helpful. In spite of the helpful circumstances, we've decided to move on. More later. pic.twitter.com/V4539uYCHR
— John McAfee (@officialmcafee) July 24, 2019
First BTC buy zone is reportedly approaching
Some experts, on the other hand, believe that BTC will drop some more.
Just the other day, we reported that the technical and fundamental analyst Alex Kruger said that BTC is probably heading towards the first buy zone.
“The range is now breaking down. 8500-8600 is the next logical stop and first major buying area. Chart favors downside yet the upside is IMO considerably larger. Keep the big picture in mind.”
Analyst Josh Rager seems to agree on this and he mapped out a chart showing the next level of support at $8,975.
He says, “The ‘potential’ lower-high looks to be playing out with a price below $9,690 Eyeing price to make its way to sub $9k at the weekly support level to form a lower-low.”
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