By now it’s time again for this week’s final lunch update. We take a look at the live Bitcoin price and the prices of the top 25 crypto that are rising at lightning speed. In the process, we ask whether we can already breathe a sigh of relief and which prices are important. We also look ahead with the Bitcoin weekly forecast.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto skyrocket
At the time of writing, the live Bitcoin price is quoting EUR 28,846.51 ($30,377.02). This is 8.60% higher than yesterday at lunchtime. Whether this is enough to make up for the absurd losses of the best known crypto influencers is the question.
Bitcoin’s rise is creating positivity for many coins in the crypto top 25. We only see red numbers for a few stable coins, but for the rest we see substantial positive results. The biggest gain of the day so far is with 33.12% for PolkaDot (DOT). However, there are many more crypto coins that are posting double-digit gains today. However, we can see from the weekly results that this is not yet enough to wipe out the red numbers. On the site of Tradeincrypto.com you can follow all results and live crypto prices 24 hours a day, including the entire weekend.
Bitcoin price rises, is the crypto crisis over?
With the market recovering so quickly, it is tempting to think that we have put the crisis behind us again. Yet this is cheering too soon. There are bullish signals though. For example, we see that many investors are taking their BTC off the exchange again. This is an indication that they do not want to sell and are waiting for further price increases.
On the other hand, there are the technical analyses that show that compared to previous similar crashes, the Bitcoin price is far from being at its lowest point. If we assume the biggest crashes in the past, the BTC price could fall to 80% of its high. In this case, the bottom of the crisis should then be found at $13,798.
As we saw last night, several crypto-experts also think that the crypto crisis will certainly continue for weeks or months. As we see today, this does not have to mean that this crisis is going in a straight line.
In addition, the question is whether the crisis will erode the Bitcoin price to 80% of its value. Institutional investors may be able to make the biggest difference by buying before the 80% dip. For example, MicroStrategy announced that until the price reaches $20,000, it is buying as much additional BTC as possible to support the market.
These BTC prices are important this weekend
With the price of Bitcoin moving so quickly, it is important to keep an eye on the key quotes. As mentioned, there are key quotes at $13,798 and $20,000, but fortunately there is plenty to see at the top of the market as well. For example, the rise in price is chasing the Bitcoin price back above $30,000, which is an important support level. So it is important for further recovery that the price of BTC stays above that.
If this happens, Bitcoin manages to break through the formation of a bearish trend line and can recover further. Resistance levels can then still be expected at $30,500 and $31,500. The recovery will therefore be in small steps.
If Bitcoin cannot hold on to the $30,000 support level, a new wave of selling could follow. This will be considerably faster as we will then find the first major support levels at $27,650 and $26,200. So it will be an exciting weekend, although the weekly forecast gives an indication.
Bitcoin weekly forecast: crypto crisis continues with bearish price target
The analyses for the Bitcoin price in the coming week show that we are facing a false price breakout. While there is still a small room for increase, according to the analyses, this is silence for a new bear-storm. You can see this in the video analysis below.
So with the possibility of a rapid rise in price that will be followed by an even more rapid drop to $19,000.00, it is important to proceed with great caution. Preparing to make returns in an uncertain market is therefore essential.
We will of course continue to follow the market. Will you?
Want to stay up to date on the latest stock 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.”