By now it is lunch time again. We look at the rising Bitcoin price and the prices of the top 25 crypto. Then we see notable whale activities. Also, Wolf of Wall Street Jordan Belfort shares his take on the BTC price. Finally, we analyze Bitcoin key prices in the near term.
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 rise
At the time of writing, the live Bitcoin price is quoting EUR 18,952.43 ($19,768.61). This is 1.39% higher than during our Bitcoin lunch yesterday.
The prices of most of the top 25 crypto are also rising. There are a few coins that record a loss. This loss is currently the largest at -2.26% for Leo Token (LEO). The biggest gain is now with + 9.42% for Polygon (MATIC). On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Bitcoin whales take into account price recovery
A comprehensive analysis by crypto-expert Lark Davis shows that Bitcoin is currently being bought up en masse by big whales and investors who now have less than 1 BTC in their wallets, but want to raise it to at least 1 whole Bitcoin by buying low and low. We can see this in the chart below.
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The biggest buyers of #bitcoin right now are mega OG whales, and those with less than 1 BTC who KNOW that this period is their last chance to get a whole coin! pic.twitter.com/xCu9RhIDAO
– Lark Davis (@TheCryptoLark) July 5, 2022
In addition, he shows that a record amount of Bitcoin is being withdrawn from the exchanges. He also shows this in a clear chart.
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Largest #bitcoin exchange outflow on record.
Probably nothing… pic.twitter.com/JaIcnAa2Tz
– Lark Davis (@TheCryptoLark) July 5, 2022
This means that investors are holding (hodling) BTC because they expect price increases. Investors consider this a bullish signal.
Wolf of Wall Street Jordan Belfort also positive about BTC
Wolf of Wall Street Jordan Belfort was anything but the bravest kid in the class. Yet he is asked by many experts for investment advice. For some time he has also been active in crypto and BTC in particular.
In an interview with Yahoo finance, he gave his expectation about the crypto market. Starting at 7.20 minutes, he discusses the Bitcoin price expectation.
As we can see, he is optimistic about the future of Bitcoin. He expects that with a 2-year investment horizon, you’ll actually always make a profit. According to him, that chance increases if you keep an investment horizon of 4 to 5 years.
On the one hand, this is in line with the view of Binance CEO CZ, who previously indicated that around the halfway mark (in a little less than 2 years) we could see substantial profits again. On the other hand, it was precisely the current crisis that killed the theory that Bitcoin delivers a profit every 4 years.
With that, the long-term outlook is good, but in the short term, the Bitcoin price outlook is still bearish. We see this when we look at the key prices.
These are the key quotes for the Bitcoin price expectation in the short term
It worries most analysts that the Bitcoin price is still not above $20,000. On the other hand, the current consolidation phase is reassuring to those who expected a flash crash when the currency dipped below $20,000.
The key price for Bitcoin is still $20,000. As long as this is not steadily broken through, the scenario remains bearish according to many. A drop to $17,500 is then likely. If the BTC price also drops through this support level, eyes will turn to a price of $14,000. This is where several technical fundamentals come together.
If Bitcoin manages to stabilize above $20,000, there is limited room for growth. Indeed, we then find strong resistance at $21,800.
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#bitcoin breaking out of the triangle!
Watch for key resistance around $21,800 (purple box) pic.twitter.com/UoRyxKPQfm
– Lark Davis (@TheCryptoLark) July 4, 2022
If it is broken through we can make bullish outlook. If not it will depend on how heavy the new rejection will be. If it pushes the price back below $20,000, the bearish scenario from before seems to be back in play.
We will of course continue to follow 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. 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.”
