Also today, of course, we look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Then we analyze the bullish BTC long term outlook and a counter outlook. Finally, we look at why the price of the largest crypto is at a make or break point and what the Bitcoin (BTC) price key quotes are in the short term.
We begin, of course, with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live bitcoin (BTC) price and prices top 25 crypto drop
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 23,086.28 ($23,512.11). This is 2.35% lower than during our Bitcoin lunch yesterday.
The prices of the top 25 crypto are also falling. We see only a few green numbers apart from the stable coins. The biggest gain is currently for Lido Staked Ether (STETH) with +3.32%. The biggest loss is currently for Avalanche (AVAX) at -9.21%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Bitcoin (BTC) price expectation bullish in the long term
As fears of major price declines subside, we are slowly seeing more positive expectations for the BTC price in the long term re-emerge. For example, Bloomberg analyst Mike McGlone thinks it is only a matter of time before the Bitcoin price hits the $100,000 mark. He doesn’t mention a specific moment, but does indicate that it will take the Fed pulling back more before this magical price can be hit. He also expects a turnaround to take place in the 2nd half of this year that will see Bitcoin as a less risky investment. This, he believes, will create room for a bull rally with $20,000 as a base.
Now $100,000 as a target price sounds ambitious, but the analysts of the well-known InvestAnswers YouTube channel (with over 440,000 subscribers) caused a stir with an even more positive expectation. They expect a share price of $773,000.
How they came to this extraordinary analysis you can see in the contribution below.
As you can see, their expectation that Bitcoin (BTC) can quote $ 100,000 by the end of this year and even $ 773,000 within 3 to 5 years has mainly to do with the positions that asset manager BlackRock will take. So, after working with Coinbase, it is interesting and perhaps even very profitable to follow the steps of this giant corporation in cryptoland.
Mike Novogratz voices dissent: no BTC rally for now
Galaxy Digital had a poor second quarter in which the investment vehicle of crypto-influencer Mike Novogratz had to report a loss of $554 million.
In an interview about these results, he also shed his light on the Bitcoin (BTC) price forecast. You can watch the entire interview here.
In a nutshell, he doesn’t expect a big bull run this year. One factor he believes is the Fed with its continued interest rate measures. Another factor is that there is not much institutional capital coming in at the moment.
In doing so, in the very short term, he is very curious about the index figures that will be presented tomorrow in America. A dramatic inflation figure could have a major impact on the markets.
Bitcoin (BTC) price key quotes in the short term: make or break
Analyzing the short-term BTC price, we see that the price has dipped below $24,000 again. With that, the currency has moved out of the bullish zone and into the consolidation bands again. The bullish key price is thus the previously discussed $24,655. The bearish key price is the bottom of the consolidation bandwidth at $21,430.
If the price still manages to break the resistance at $24,655 and is able to turn it into support, the bullish scenario we described yesterday is active again.
Otherwise we have to turn our eyes to the bearish scenario, where $21,430 is the first support level. After that we find the second support level on the sell side liquidity ($ 20,750.-) and the psychological limit of $ 20,000.- acts as the third bearish support level.
So, especially in view of the upcoming inflation figures, it remains wise to set yourself up for trading in an uncertain crypto market.
Of course, we will continue to monitor developments.
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.
Note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.