By now it is lunch time again and thus time for our crypto update in which we look at the live Bitcoin price and the prices of the top 25 crypto. Then we look at what bull prospects there are and what people expect from the Bitcoin price in the short and (medium) long term. Analysts are divided…
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 lower
At the time of writing, the live Bitcoin price is quoting EUR 39,276.31 ($43,381.51). This is 3.88% lower than yesterday at lunchtime and also lower than during our Bitcoin update from yesterday which appeared later.
The correction for the prices of the other crypto coins in the top 25 also continues. Apart from the stable coins, we only see red numbers. The biggest loss so far today is with -7.58% for Terra (LUNA). On the site of Tradeincrypto.com you can analyze all live crypto prices.
Turmoil due to activation of dormant BTC wallet
When Satoshi Nakamoto was still involved with Bitcoin, a number of wallets were created. Most of those wallets are dormant. Once such a wallet becomes active, turmoil usually follows in the crypto market.
This is no different now that a 12.5 year old wallet is becoming active. This was created even before the Bitcoin pizza. The transaction went from unknown wallet to unknown wallet, so a sale does not seem to be present.
Incidentally, analysts do not expect the wallet to belong to Satoshi himself. Consequently, in the comments under the report, there is a lot of speculation about the owner. Did he “just” lose access to his wallet or did he get out of jail? Either way, this investor’s patience was rewarded. When the wallet was filled, Bitcoin was virtually worthless and now the 50 BTC represent a value of millions.
Twitter won’t load because you didn’t give permission.
– Whale Alert (@whale_alert) April 7, 2022
Bull signals BTC continue to rise
Despite the correction in price, bull signals continue to emerge. One of the bullish developments could be a spot ETF. Last year we saw a futures ETF give the market a huge boost.
Still, the U.S. regulator was reluctant to approve spot ETFs. Recently, however, they authorized a new Bitcoin Futures ETF based on the same regulations used for approval of spot ETFs. This means that future applications cannot be rejected outright and that the SEC will have to find much stronger arguments for rejection.
Noted analyst Willy Woo also remains bullish. He sees that investors are buying BTC en masse and also storing them in their private wallets. In doing so, they seem to be speculating on price appreciation.
It also appears that institutional investors have not lost their interest. Currently, institutional investors are buying stable coins on a large scale so that they can later be converted cheaply into Bitcoin, for example, when prices become bullish again.
What is the Bitcoin price forecast? Analysts are divided
All the bull signals are nice, of course, but the fact is that the price is falling. The question, of course, is what insiders expect from the Bitcoin price in the short and longer term. The market appears to be becoming more divided.
FX Street analysts remain optimistic. They assume that the dip is temporary and see a quick and strong recovery in the coming days. The price, they believe, could soon begin a rally to monthly records.
Other analysts point to the effect of the mid halving statistics. If we are to believe them, it will take another 2 years before Bitcoin makes really big price jumps again. Analyst Peter Brandt disagrees. He expects a trend reversal.
For now, however, the market is volatile, so it is wise to continue to prepare for trading in an uncertain market.
We will of course 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. 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.”