- Bitcoin price continues to struggle below $23,500.
- Analysts are bullish on Bitcoin and expect a rally towards $30,000 in the next four weeks.
- A Bloomberg analyst and a crypto analyst believe that the BTC price could hit $30,000 in the near future.
Current Price Movement of Bitcoin (BTC)
Bitcoin price today began with a minor consolidation that soon lost momentum and started to deplete. After the recent bearish weekly close, it is quite evident that the BTC price could drop below $23,000 very soon. However, some analysts remain extremely bullish on Bitcoin and believe the price may rise and hit $30,000 in the next 4 weeks. To do so, $25,000 levels should remain as an important juncture to be cleared.
Bloomberg Analyst’s Viewpoint
A senior Bloomberg analyst Mike McGlone shared his research which stated „Headwinds Remain Strong; Markets Have Bounced- ‚Don’t fight the Fed‘ was the dominant headwind for markets in 2022, and remains so in Q1,“ Meanwhile he also suggested that BTC needs to rise above the resistance at $25K.
Crypto Analyst’s Viewpoint
On Twitter a popular crypto analyst Kaleo posted his analysis which highlighted a high time frame breakout of BTC just before 2023 start. This breakout raised bitcoin’s value beyond its descending trend line that had been maintained for few months prior this event. Moreover after this breakout there has been a surge within a rising channel which is now testing its lower support attempting to rebound from it. Therefore if this rebound succeeds then it is expected to move up towards hitting 30K by couple of weeks ahead.
Current Price of Bitcoin (BTC)
Presently Bitcoin (BTC) is trading around $23,438.8 with an increment of 1.11% in last 24 hours while it has dropped more than 4.4% since past week’s close .