Bitcoin back to $2300?

Le Bitcoin de retour vers les 23 00 dollars ?

For many weeks it was difficult to read the movements of Bitcoin. Some observers are betting on a return of BTC towards $23,000. A move that would be the start of a new short squeeze?

Bitcoin in the $20,000 area

For the time being, Bitcoin is again being maintained a ranges around $20,000. The support around $19,600 seems to be holding and we saw the Price bounced on it several times the last days. Some observers think that with the price of Bitcoin set in a range, it could aim higher again.

Bitcoin back to $2300?

The support at $19,600 keeps the price in the current range (source:

There is no clear sign or direction visible on Bitcoin and the market still unclear. Macroeconomic conditions not encouraged. Many fear a sharp rise in interest rates that would drag the equity market as well as the crypto market down.

Some traders, like Il Capo de Crypto all stay the same hopeful. For him, thanks to a bearish consensus, squeeze shortsie all Bitcoin selling sites may be liquidated.

Therefore the price would quickly return to $23,000 and stop many traders betting on the downside. To protect himself, he invalidates his plan in the event of a $19,500 breakout. A situation we have already seen happen many times in recent months on the BTC.

What does total market capitalization tell us?

Some viewers like the YouTuber Van de Poppe call to look at the side Market Cap of the crypto market. This indicator is often valuable in making a decision the highs and lows of the market with some accuracy.

Bitcoin has been around for a long time below its 200-day moving average. This is the first one and it can justify a bearish feeling in the crypto market. But for him the total capitalization graph gives us more clues. He says about this:

The total market capitalization of the crypto market shows that the support is not far away, as it has held the 200-day moving average as support and remained at the previous all-time high as well.

It therefore awaits a clear retest of this support that could allow us to define a clear bottom. A contrarian view of the majority of the market that expects to see Bitcoin lower, in the $12,000 area. So often it is difficult to determine the direction that the king of crypto assets will take.

Define a winning strategy!

I such a vague and inconclusive context than the one we know, it is not easy to take advantage of the situation. Some will take a short-term approach like Il Capo of Crypto to try to take advantage of the Bitcoin rebound.

However, with a short period of time the risks are greater. That’s why, the trader has a precise plan and invalidity in the event of a breakout of the 19,500 dollars.

For most investors, DCA is still the best solution to invest in Bitcoin. A long-term horizon and regular purchases without thinking about the price allow you not to be subject to your emotions. For the time being, this strategy has yielded more than interesting returns on investment!

Resources like DCA.BTC allow us to calculate the ROI of investing in DCA on Bitcoin in recent years. So for investors who would have bought $50 worth of Bitcoin every week for the past two years still in value ! A feat that is not obvious when you know the fall of Bitcoin since its November 2021 ATH.

Bitcoin back to $2300?

Example of DCA on Bitcoin for two years with $50 per week (source:

Allow Dollar Cost Averaging to accumulate without asking questions. If you believe in the asset’s potential, this is the most accessible way to invest. It allows you to get peace and quietly waiting for better days when the asset is at its lowest during the often long bear market phases.

To learn more about the number two market, Ethereum, find our article here.

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