Bitcoin and crypto trading also continues during Easter. We look at the live Bitcoin price and the prices of the top 25 crypto currencies. In addition, we look at the results of the past week and analyze the price decline. Finally, we look at the forecast for the Bitcoin price in the short and long term.
As always, we start with the live Bitcoin price and the prices of the top 25 crypto coins.
Bitcoin price and prices of top 25 crypto coins fall sharply
At the time of writing, the live Bitcoin price is quoting EUR 36,123.70 ($39,056.58). This is 3.40% lower than yesterday around this time and also lower than during our Bitcoin lunch last Friday.
The prices of the top 25 crypto coins are also falling. Apart from a single stable coin, we only see red numbers. The biggest loss of the day so far is for Chainlink (LINK) with – 8.51.
Another negative week for Bitcoin and crypto
Obviously, today’s price declines affect the weekly result for Bitcoin and other crypto. This is clear to see, because apart from some stable coins, we also see only negative weekly results.
The heaviest loss of the past week was for Terra (LUNA) with -14.23%, while Shiba Inu (SHIB) managed to limit the damage the most with -1.62%. Bitcoin (BTC) can be found in the middle with -7.51%.
If we look at the result over 30 days we do see crypto coins with a positive result. Near Protocol (NEAR) offered the best return over this period with +32.03%. The biggest loss over the past few days was for Cosmos Hub (ATOM) with -20.26%. Again, we find Bitcoin (BTC) in the middle with -6.54%.
On the site of Tradeincrypto.com you can find all the results and live crypto prices 24 hours a day.
Analysis: what’s going on with the BTC?
We see Bitcoin investors taking profits after a volatile week. The failure of Bitcoin to complete an attack on resistance at $41,000 yesterday spooked investors. This caused the price to drop below the psychological resistance at $40,000, after which a subsequent wave of selling pushed the price even below $39,000, but in the meantime there seems to be some recovery.
This had hefty consequences, as the crypto snowball began to roll, liquidating over $120 million. We see traders taking their profits, leaving the market indecisive. We see this in the analysis below, among others.
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$BTC Weekly close was bad, a full body candle below rider band and a bearish momentum dot, however it is still a higher low.
Strong arguments for bulls and bears. I will be focusing on low timeframe trades and aggressive profit taking while the trend is undecisive. pic.twitter.com/gxZQibyVDO
– Trend Rider (@TrendRidersTR) April 18, 2022
In this regard, the fact that financial markets have been closed since Friday ensures that the price is mainly determined by retail investors, who are generally more emotional and cautious. The question is how the market will react today (when the American financial markets are open) and tomorrow (when the European professional markets reopen).
The fact that there is apparently a Miner Capitulation (meaning that the cost to mine Bitcoin becomes so high that miners temporarily stop mining) does not help in this regard.
Market indecisive: this is the Bitcoin price forecast for the short and longer term
Behind these short-term moves lies another trend. Namely, the Bitcoin price is constantly being pulled back towards the major consolidation zone between $30,000 and $40,000. With that, the market does not have the clout to convert all bull signals based on technical analysis into the expected price increase, causing investors to become uncertain and take their profits faster.
Bitcoin headache: no pain no gain
The current situation is causing analysts to expect further price declines to be imminent. With that, the Bitcoin price could fall to $30,000 (the goal people have their eyes on right now) or even lower.
Still, after this painful slide, people expect a quick recovery, with the $50,000 price target not yet out of sight. In this video analysis you can see which bumps have to be taken for that.
So now that we should expect a very volatile market with hefty outliers up and down it seems wise to be thoughtful and prepare for trading in an uncertain crypto market.
Of course, we will report on developments during the opening hours of the US financial markets in our crypto update tonight. For now, despite the disappointing prices for many, we wish you a happy continuation of Easter.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”
