Despite the recent crisis that caused the price of several cryptocurrencies to fall, bitcoin (BTC) holds above $20,000. For this reason, many traders and analysts are optimistic about the future. As for the latter, the bullish trend will take over and the value of the cryptocurrency will increase in the coming weeks.
A downtrend that disappears
On July 14, the price of bitcoin (BTC) rose as high as $20,880 as experts expected it to be much lower. It should be noted, however, that in the last 24 hours, the price of the digital asset has moved to low levels again. Indeed, it is to $20,586. However, considering the few days before this fall, it can be said that BTC is holding its own against the crisis.
During the day of July 13, the price of BTC rose above the $ 19,600 mark. In doing so, as the Content Indicators show, the king of cryptocurrencies has started a nice uptrend. It is for this reason that traders are convinced that the downtrend is now a thing of the past. Of course, only time will confirm or deny this vision.
Bitcoin (BTC) will not hit $13,700
For the future, analysts are positive and believe that the catastrophic scenarios initially predicted will not materialize. They firmly believe not another fall will not take place below the lowest level reached in June. To prove it, Steve Cowen, founder of Crypto Crew, published a chart showing that bitcoin (BTC) will not touch $13,700.
However, he still argued that BTC could go down to this level, if its price misses $19,500 as support. According to Cowen, “the $19,500 is coming along nicely so far.”
The price of bitcoin (BTC) fluctuates. However, analysts remain positive and believe that the value of the digital asset will increase in the coming weeks. Several features make it defensible, especially the indicator-based graphs.
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