Summary:
Bitcoin price approaches 2023 highs as market sentiment improves. The largest cryptocurrency Bitcoin has jumped above $30000 and faces a resistence at $31k mark. Now the Bitcoin price consolidates between the $29k and $31k.
Bitcoin has reclaimed the $30k resistance level, for the first time since April, and this support remains critical for the possibilities of bitcoin price to reach $33,000 and later to $38,000. However, in the last couple of weeks, we have also witnessed BTC price falling below $25,000, and promptly regaining back to the 30k trend. So what’s next? Will Bitcoin price rally and rise to $32k mark or depeg to 28k and below?
As Crypto investors show a bullish sentiment over Bitcoin due to the 62% increase since the turn of the year, a massive pullback is unlikely only if the the support at the $30k is adequately protected, along with the the improving market sentiment and increase in demand for BTC from both retail and institutional investors.
Let’s dive into what our esteemed guest speakers have to say about the ongoing fluctuations of the Bitcoin price and whether Bitcoin price will rise or fall above the 30k resistance support.
