A little earlier than usual, we look at the live Bitcoin price and the prices of the top 25 crypto currencies. Then we see how Telegram is going to help with BTC mass adoption. Then we see why it could be an exciting weekend for Bitcoin and what the BTC weekly forecast is.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto currencies.
Live Bitcoin price and prices top 25 crypto plane
At the time of writing, the live Bitcoin price is quoting EUR 37,515.54 ($39,430). This is 0.57% lower than yesterday and also slightly lower than during yesterday’s Bitcoin lunch which appeared a little later.
The prices of the top 25 crypto coins are also currently flat. We see some outliers in both the losers and winners. The biggest loss of the day so far is for Near Protocol (NEAR), which loses 6.99%. The biggest gain is for newcomer Apecoin (APE), which records a + of 13.87%. On the site of Tradeincrypto.com you can follow live crypto prices 24 hours a day, including all weekend.
Telegram helps Bitcoin mass adoption
As you could read in yesterday’s Bitcoin lunch, Bitcoin benefits from the best possible user case to ensure that the currency is used as a means of payment. Social media network Telegram is doing its part to help with that.
The network is going to make crypto payments possible. For this purpose it is setting up its own crypto platform, The Open Network, including a wallet bot and its own TON Token (TON). With this, this messenger app has a world first.
Exciting weekend ahead for Bitcoin?
Although the Bitcoin price is somewhat flat this morning a lot happened. As we wrote earlier this week, the range in which Bitcoin trades is getting narrower. With that, a breakout seems imminent. We saw the price try to get back above $40,000. The futures market reacted immediately. We saw $120 million worth of short options liquidated and the number of long options increased rapidly. The price increase also kept the Bitcoin price above $39,000 when the Bitcoin monthly and weekly options expired. This cost the Bears nearly $100 million.
So with a buy front between $38,000.00 and $39,000.00 on which the whales have so far consistently appeared active, there seems to be a bandwidth of less than $1,000.00 left. The question is therefore whether all the bullish factors will ensure that BTC can now convincingly break through the resistances between $40,000 and $45,000 or whether the whales will retreat and we will have to count on a further price drop. Analysts think a bullish break is more likely.
BTC weekly forecast: Is the bottom in sight? Bulls almost have to be
The market has long seen many bullish signals for Bitcoin. However, the market needs more volume to break the resistances. Therefore, people expect a price drop first to bring more liquidity into the market. There is, as we saw above, not much room for this.
Based on technical calculations, the bottom is between $37,500 and $37,000, but since the whales are already buying between $39,000 and $38,000, the question is whether that bottom will not be less deep in practice.
If the bid is reached, technical analyses show that a substantial bull rally is possible. A price target of $42,125 is then possible. The next step after that is to break through the resistance formed by the simple moving average over 200 days (around $ 43,766). If this strong resistance is also broken, the price could rise further to $ 45,510, which would give a return of about 20% compared to the current price.
The complete explanation can be seen in the video analysis below.
To be complete we also look at the bearish scenario. This seems theoretical at the moment, because as can be seen in the analysis this is only expected with a daily candlestick chart below $34,752. However, if this price is recorded, things can go fast. In that case the price could quickly drop below $30,000.
As long as no clear direction has been determined and the ranges within which the BTC moves are becoming narrower, it seems wise to focus on making money with crypto in uncertain circumstances.
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.”
