As usual around lunchtime, we review the live Bitcoin price and the prices of the top 25 crypto currencies. We also look back at the results of last week and last month. Then we look at the causes of the price decline, bullish signals and the near-term expectation of the Bitcoin price.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto coins.
Live bitcoin price and prices top 25 crypto drop
At the time of writing, the live Bitcoin price is EUR 35,687.39 ($38,504.24). This is 2.93% lower than yesterday and some 4.7% lower than during our Bitcoin lunch on Friday.
The prices of the top 25 crypto coins are also negative. Apart from a few stable coins, we only see red numbers. The biggest loss of the day so far in the top 25 crypto is with -9.79% for Near Protocol (NEAR).
BTC prices and top 25 crypto continue to fall
Naturally, the current negative prices are affecting the weekly and monthly results of Bitcoin and other top 25 crypto.
Looking at the weekly results we see one big positive outlier besides the stable coins. This is for Terra (LUNA) with + 14.83%. The biggest loss in the week was for Ripple (XRP) with -13.09%. Bitcoin holds the middle with -3.04%.
In the monthly results, the big positive exception is for Near Protocol (NEAR), which managed a return of +13.08% in 30 days. The biggest loss over this period was for Cosmos Hub (ATOM) with -25.26%. Again, we find Bitcoin in the middle of the pack with -13.09%.
Of course, you can analyze all the results and live crypto prices 24 hours a day on the Tradeincrypto.com website.
Bitcoin and crypto drop due to Ukraine and Fed forecast
The question, of course, is why crypto prices continue to fall despite all the bullish signals. With Russia expanding its offensive in Ukraine, this is causing unease among investors.
Also, the Fed let it be known that it expects to implement an interest rate hike at the next Fed meeting (scheduled for the first week of May). These factors caused investors to lack confidence and look for safer investments. As a result, it failed to break resistance at $42,000, after which profit-taking caused further price declines.
BTC and crypto market immune to bull signals?
With that, the market continues to ignore the many bull signals based on technical and fundamental factors. For example, investment company Skybridge announced that it has so much confidence in crypto that it is shifting its focus to crypto projects. As part of this, it plans to convert some of its holdings into Bitcoin.
In addition, the Central African Republic is working on the acceptance of crypto through new regulations. It also wants to follow El Salvador’s lead in accepting BTC as legal tender to boost its economy.
Whereas with MicroStrategy and El Salvador, this news led to hefty bullish price movements, prices are now not responding to this news in any discernible way, and this is a growing concern.
What do we expect from the Bitcoin price?
Last Friday, people were still convinced that Bitcoin would embark on a bullish rally towards $50,000 or $52,000. That thought is still alive and well based on the Ichimoku Cloud analysis.
Twitter won’t load because you didn’t give permission.
#BTC is successfully retesting the Ichimoku Cloud bottom for the 3rd time in 2022
Previous successful retests led to rallies to the Cloud Top
If history repeats, $BTC could climb an additional +20% to reach the ~$52000 area
Read more here:https://t.co/0YnsmAZUZS#Crypto #Bitcoin pic.twitter.com/dvGYjZ8xlJ
– Rekt Capital (@rektcapital) April 21, 2022
The condition for this is that the market maintains the bids of the stock price. According to various (historical) analyses, this is between $39,000 and $37,600.
Twitter won’t load because you didn’t give permission.
#Bitcoin comparison of the 2018/2019 Bear Market Bottom compared to the current structure BTC has been in since January of this year
Similar Time Frame
Series of Lower Highs and Higher Lows
Creation of a higher high
Pullback after first higher high
Crucial $37.6k Holds pic.twitter.com/kzQhvZUTMr
– Matthew Hyland (@MatthewHyland_) April 23, 2022
This seems to be working as long as large investors are buying in below $40,000 because they think this will buy a dip in the market. If this lower limit is not there we should be prepared for a further price drop. This could bring the Bitcoin price below $30,000 and, according to some analysts, even below $20,000 again.
So now that the market is consolidating, these are definitely key rates to watch out for. In addition, it is wise to remain rational and bet on trading in an uncertain crypto market.
Investing but not in crypto for a while?
Of course it is always good to include different types of investments in your portfolio. It may also be that because of the bearish development you are curious about the expected return in other investments. If you want to do research on this, we are happy to help you by making a weekly price forecast of the most important investments. You can read the price forecast for the coming week on MANNERS.nl.
Want to stay informed about 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.”
