After the downfall of FTX, many investors started pulling out their money from Bitcoin due to fear of the market collapsing. Bitcoin Price recovered above $16,000 on Wednesday morning, along with the rest of the top 10 crypto coins. As per analysis, it is believed that if Bitcoin shows resistance at $16k it will surely rise to $18k
Bitcoin is headed towards $ 18k.
After continuously collapsing crypto prices due to FTX falling, there is a sign of relief that can be seen, i.e., a green candle means crypto prices are rising again. If Bitcoin manages to break the resistance level, it will surely proceed to the next target, which is $18k. In order to show some positive impact, Bitcoin must maintain the resistance level of $16,500. This is one of the most popular crypto analyses. Michael van de Poppe explained in a tweet on November 23.
If this happens, Michael Van De Poppe believes that it will move to the next level, which is $18,000, and right now it looks like it will happen, which is a good sign in and of itself. Another popular crypto analyst Matthew Hyland says that, at the same time, someone who has been following the Bitcoin candlestick indicator since January argues that Bitcoin Price must reach approximately $20,200 to get out of its second-longest bear market.
Meanwhile, it is noted that as Christmas is on the doorstep, the approaching holiday of Thanksgiving has historically acted as a bull market for Bitcoin Price.
As in 2021, the cryptocurrency had soared 214% as compared to 2020 and 162% from 2019. So it can be expected for the bull to run in the coming Christmas month. Bitcoin Price Analysis. At the time of writing, it was noted that Bitcoin was trading very close to Van de Poppe’s resistance level, which is at a price level of $16,563, which showed a sign of 5.29% increase on the day.
Bitcoin Will be the future
Many crypto analysts believe that Bitcoin will surely rise after all the problems are solved. It is believed that in the coming years, Bitcoin will rise to $500k or $1 million in the coming year, which will be around 2030.
It may look like investing in Bitcoin is late, but if held for the long term, it will give a high return. So owning one Bitcoin is also considered a great achievement if you plan to hold it for a long time. That’s the reason many investors are storing Bitcoin as much as they can, as they believe it will give them freedom from the system. So investing in Bitcoin has never been a bad idea if you hold it.
FAQs About Bitcoin Investment
Ques -1 Is Bitcoin a good investment?Bitcoin is the King of the Crypto World and the revolution of crypto technology so investing in Bitcoin for the long term can give you financial freedom. So popularity of Bitcoin is rising among investors as it will be a great assist in the future.
Ques -2 Can you make money investing in Bitcoin?
Yes, as many investors believe that 2022 and 2023 are the early stages for Bitcoin to invest so many investors are investing in Bitcoin as much as they can, many news are also coming up for the development of crypto and Bitcoin plays a major role in it.
Ques - 3 Is it smart to buy Bitcoin right now?
Most investors and analysts believe that right now Bitcoin Price is undervalued so buying Bitcoin is always been the best choice if you compare it with other crypto coins. Soon, it can as high as $ 1 million per Bitcoin.
Ques -4 How much would Bitcoin be worth by the end of 2023?
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