Experts Predict Cryptocurrency Trends

By BH NEWS
about 1 month ago
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Bitcoin (BTC) appears to have hit a low at $65,078, rebounding to $65,677. If BTC can surpass $66,250, it could offset recent altcoin losses. As the weekend looms, what could be the price targets for BTC, XRP, DOGE, AVAX, NOT, and TON Coin from June 14-17?

What are the Latest BTC Predictions?

Peter Brandt, a prominent market analyst, has suggested that BTC prices might fall to $60,000 and eventually to $48,000. Despite these bleak forecasts, the supply held by large holders has reached a record high, signaling some positivity. Additionally, MicroStrategy’s announcement of a $700 million bond issuance, with the company holding 214,400 BTC, adds another layer of optimism.

Julio Moreno from CryptoQuant noted an extraordinary purchase of nearly 300,000 ETH within 24 hours on June 12, marking the second-highest accumulation since September 2023.

Will XRP Maintain Its Support?

XRP has been trading between $0.46 and $0.57, with investors capitalizing on this stability. However, if the support level at $0.46 is breached, a drop to $0.41 could occur. For upward momentum, reclaiming $0.51 is essential.

Returning to Bitcoin, it has dipped below the 20-day exponential moving average (EMA) of $68,234. The Relative Strength Index (RSI) is weakening, and BTC has lost its 50-day average at $66,047. Failure to regain this level could drive prices down to $60,000.

Key Takeaways for Investors

– MicroStrategy’s $700 million bond issuance could support BTC prices.
– XRP must maintain $0.46 to avoid a drop to $0.41.
– DOGE may test $0.12 by June 17 if sales continue.
– AVAX’s critical support is at $31.5; failure to hold could lead to $25.
– NOT Coin maintaining $0.01683 is crucial for upward movement.

Conclusion

As BTC struggles to regain key support levels, the coming days will be crucial for determining the next moves for Bitcoin and several altcoins. Investors should keep an eye on critical price points and market signals to navigate this volatile landscape effectively.

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