TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Cryptocurrency

Bitcoin Price Consolidating for a Major Push, Is $40K on the Cards?

by souhaib
January 20, 2021
in Cryptocurrency
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on TwitterShare on Reddit
ADVERTISEMENT


You might also like

Process of Creating an NFT 

All you need to know about Forex signal providers – Traders Union article

XIAOMI’S BUSINESS MODEL JOINS THE METAVERSE

Bitcoin price had a giant rally ever since the start of 2021 which escorted the price to the highest levels above $41K. The correction phase led the asset to trend in a narrow range after a slight plunge.BTC price, however, has been on decisive phase and also has recovered remarkably.

Advertisement Miners Garden

The price is expected to surge notably from the current levels as predicted by one of the analyst Alanmasters. According to the analyst, the corrections of the BTC price compared to that of the rally is very small and hence it is expected to surge further after a small consolidation.

BTC trading chart

As per the chart put up by the analyst, the chart is having some mixed signals which manifest the possibility of hitting above $40K yet once again. The bitcoin price did not swell beyond the resistance levels formed at ATH, neither there are any follow-up drops that are more severe than that of the drop that occurred on January 10 and 11.

Therefore, it appears that traders and bulls currently are having a fun time by just watching the market trend and not being in action for some time. Some analysts believe that this phase would continue for some more couple of days, until the price finally takes off towards the target set beyong $40K.

Why is Bitcoin Price Trending Sideways?

The price of any asset attracts the traders only if it showcases it’s higher levels of volatility. Woefully, Bitcoin in the past few days appears to have consolidated with less fluctuation. And hence the short term traders might have extracted their profit and shifted their focus on other altcoins. 

No doubt, Bitcoin is manifesting a strong signal of a major bull run in the coming days, but currently, the other altcoin rally and dipping Bitcoin dominance might indicate the Altcoin season of 2021 is approaching very soon. 

One of the popular on-chain Analysis platform Santiment revealed the current strategy of the traders due to which the prices are trending sideways. And it’s HODL!!!

According to the platform, as the Bitcoin price was approaching the ATH, many dormant coins were being moved. As the price started consolidating, the assets were back being dormant reducing the age consumption of Bitcoin. 

It was believed that the Bitcoin Monster rally is short-lived, which is however demolished by the current price trend by not declining below $35K. As the surge is expected to hit the highest levels in 2021, the bitcoin price rally may not only touch $40K but also hit $50K in the coming weeks.



Source link

Share30Tweet19Share
Previous Post

Covid-19: Government urged to keep £20 benefit increase, and heart patient numbers drop

Next Post

Rouhani, on the day of “the end of tyrannical Trump,” calls on Biden to return to the nuclear deal

souhaib

Recommended For You

Process of Creating an NFT 

by souhaib
January 24, 2023
0

Introduction Non-Fungible Tokens, or NFTs, have become increasingly popular over the last year as a way to tokenize unique digital assets. In this article, we will discuss what...

Read more

All you need to know about Forex signal providers – Traders Union article

by souhaib
January 21, 2023
0

Are you looking for information on Forex signal providers? Look no further! In this Traders Union article, we'll provide you with all you need to know about the...

Read more

XIAOMI’S BUSINESS MODEL JOINS THE METAVERSE

by souhaib
January 19, 2023
0

When you hear about the Metaverse, people seem to be moving to a future where they can visualize themselves as robots or simply a society controlled by robotics...

Read more

BLOCKED INVESTORS FROM 2GETHER ARE ADDED TO BIT2ME

by souhaib
January 19, 2023
0

The renowned crypto companies and exchanges in the cryptocurrency market have been victims of a global economic and financial landscape that has not turned out to be anything...

Read more

BY 2030 THERE MAY BE 1 BILLION CRYPTO USERS

by souhaib
January 19, 2023
0

Cryptocurrencies and digital assets have become the investment option of many people worldwide, with whom they have come to obtain wealth through investments and revaluations of these digital...

Read more
Next Post

Rouhani, on the day of "the end of tyrannical Trump," calls on Biden to return to the nuclear deal

No Result
View All Result

Recent Posts

  • Most cancers timebomb warning: 500,000 Brits will get identified every yr from 2040
  • 10 Winter-Themed Promotions You Can Run That Will Make You Profit
  • How To Update Your House To Make It More You
  • Inside the secret DEA lab monitoring the opioid crisis
  • Coinbase shoots up 21% in the stock market after judicial victory in New York By EFE

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Politics
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Politics
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide