Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-bitcoins-price-fluctuations-and-market-predictions/" data-wpel-link="internal">Exploring Bitcoin’s Price Fluctuations and Market Predictions</a> 
Since the 2022 bear market, investors accustomed to steadily rising markets were shaken in April. <a href="https://coin-turk.com/surdurulebilir-degil-bitcoin-son-rallisi-icin-simdiye-kadarki-en-ciddi-uyari-geldi" data-wpel-link="internal">Bitcoin’s price</a> climbed to $62,450 at the time of writing, but recently fell below $62,000. Bears turning $65,000 into resistance are now pushing the price back down to the $60,400 region. Are the bad days returning for cryptocurrencies? 
<h2 style="text-align: justify" id="bitcoin-btc">Bitcoin (BTC)</h2> 
This week holds a crucial Fed interest rate decision, and comments by Powell will be closely monitored. Data concerning the US economy has increased uncertainty and concern. Current conditions shaking <a href="https://en.coin-turk.com/expert-warns-of-potential-deep-correction-for-bitcoin-based-on-historical-model/" data-wpel-link="internal">Bitcoin</a> prices are the basis of today’s weak performance. 
Macro and geopolitical instability have weakened Bitcoin bulls. If the April candle closes at current levels, we will have left behind the worst month since 2024. The shock experienced by investors returning to crypto after a strong first quarter could intensify. 
<h2 style="text-align: justify" id="bitcoin-price-predictions">Bitcoin Price Predictions</h2> 
Last week, attempts to reach $65,000 were suppressed by algorithmic selling, according to many commentators including popular crypto analyst Skew. In his latest market assessment, Skew wrote that prices would move boringly back and forth at these levels for a while. 
<blockquote> 
 “I see the potential for a longer crab period between $67,000 and $58,000 until suitable market flow is supported.” 
</blockquote> 
Although sellers have so far failed to keep <a href="https://coin-turk.com/analist-hedef-verdi-bitcoin-ve-bu-6-altcoin-ralli-hazirliginda-olabilir" data-wpel-link="internal">BTC</a> price below $60,000, they have also blocked closings above $67,000 and $65,000. If we close April without a major turnaround, according to Coinglass data, it will be the worst-performing month since 2022. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-345797 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/bitcoin-aylik-grafik-yillara-gore.png" alt="" width="1244" height="696"> 
Skew lastly wrote; 
<blockquote> 
 “There are about 2 days left until the monthly close, and the price will show more volatility after this close. Monthly and weekly openings will act as very important levels.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-345798 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-tahmin-skew.png" alt="" width="1291" height="585"> 
The analyst marked $58,000 as a key support level, and if bears break through this point, the boring period for Bitcoin could continue much longer. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-bitcoins-price-fluctuations-and-market-predictions/" data-wpel-link="internal">Exploring Bitcoin’s Price Fluctuations and Market Predictions</a></h5>

Exploring Bitcoin’s Price Fluctuations and Market Predictions

Table of Contents

COINTURK NEWS

Other articles published on Apr 29, 2024

Japanese Yen Hits 34-Year Low Against US Dollar

Dogecoin Leads Meme Coin Rally with 4.43% Increase in Value Over Past Month

Tesla To Invest $10 Billion in AI for 2024, Says Musk

Rally Good News for Ethereum (ETH) and Altcoins from Santiment!

Insights on Bitcoin’s Price Trends and Predictions by Crypto Analyst DonAlt

Crypto Market Movers: Best Coins to Watch Today

Join our free newsletter for daily crypto updates!