Bitcoin update price BTC flat crypto mix problem and Christmas

Bitcoin update: price BTC and crypto is rising. What next? Forecast and bottom

In this BTC update, we look at the live Bitcoin price and the prices of the top 25 crypto. Then we analyze what to expect as the BTC price rises sharply. Is the bottom in sight and does a Bitcoin minimum price apply?

We start with the live Bitcoin price and the prices of the top 25 crypto.

Live Bitcoin price and prices top 25 crypto are rising fast

At the time of writing, the live Bitcoin price is EUR 20,216.83 ($21,238.08). This is 3.68% higher than yesterday around this time and also higher than our Bitcoin lunch from yesterday which appeared a little earlier.

The prices of the top 25 crypto are also recovering quickly. Apart from a few stable coins, we see only green numbers. The biggest gain is currently for Tron (TRX), which is up 17%. On the site of you can analyze all live crypto prices.

Does rise in Bitcoin price mean end of bear rally?

We are seeing the BTC price rise rapidly since last night’s Fed interest rate decision. Those who conclude that the price declines are over may be too optimistic. In fact, there are 3 reasons to assume that lower BTC prices can still be expected. These are:

For a bear capitulation, based on historical analysis, at least 60% of BTC holders need to suffer losses. Currently, that percentage is still “only” 46%.
We must also fear a selling wave among miners. We already saw yesterday that they are transferring their BTC to the exchange, but because of the uptrend there are no sales transactions (yet). A mineral capitulation is also historically necessary before we can see a trend reversal.
Technical analysis also remains bearish in the short term. It seems that the current rise is a so-called “relief rally” without structural justification. Experience shows that such bubbles are often quickly punctured.

Where is the BTC minimum price?

The question, of course, is what Bitcoin floor price the market needs to reach before we do anticipate another structural bull rally.

We now know that Arthur Hayes’ calculations were too high. Ki Young Yu’s quantum analysis does hold up for now and he is joined by senior Bloomberg analyst Mike McGlone. He too foresees a Bitcoin bottom price around $20,000, as you can see in the chart below.

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$20,000 #Bitcoin May be the New $5,000 –
The fundamental case of early days for global Bitcoin adoption vs. diminishing supply may prevail as the price approaches typically too-cold levels. It makes sense that one of the best-performing assets in history would decline in 1H…

– Mike McGlone (@mikemcglone11) June 15, 2022

As always, the market will determine which crypto analysts are right.

This is the Bitcoin price expectation in the short and medium term

So based on the analyses, we should still expect a bearish correction in the short term. Based on technical analyses, this could push the price back to around the $13,000 level unless institutional investors indeed manage to maintain a bottom of $20,000 below the BTC price.

It is expected that Bitcoin will indeed bounce back after that. After this, one expects a prolonged consolidation zone that may last into the fourth quarter. After that, according to analyses, one expects the bottom to be reached and the bull rally to the next halving begins. The full analysis with chart can be viewed here.

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.”

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