According to our reports, the BTC has consolidated again after failing badly by resistance levels. The Resistance was no less than almost $25,000. 2023 is the year of revival of all crypto currencies and we have seen a dramatic increase from $16k to $24k in just a few weeks.
The increase is continued by the biggest news break and that is Bitcoin Price Again Emerges After Failing from Stronger Resistance Levels.
Now BTC has marked $25k, the most significant increase since August 2022. What do you say about the next resistance level? Well, if you are also wondering. Then we are here to help you out!
According to crypto experts the resistance points can reach up to $30k and more.
Why is BTC increasing today?
The reason behind this is the rising inflation. This leads people to look for safer investment options for the assets. As a result, BTC is quite perfect. Moreover, the more payment modes are involved like Paypal, it will create more interest in people.
The price of Bitcoin, like any other asset, is subject to market forces such as supply and demand, investor sentiment, regulatory actions, and global economic and political events.
In recent years, Bitcoin has gained increasing acceptance among investors and institutions as a legitimate asset class, leading to a surge in demand for the cryptocurrency. Additionally, the recent economic stimulus measures by governments and central banks worldwide have led to concerns about inflation and currency devaluation, which have further increased the appeal of Bitcoin as a hedge against such risks.
However, it’s worth noting that the price of Bitcoin can be highly volatile, and sudden price movements can occur due to various factors, including news events, regulatory changes, and shifts in investor sentiment.
The trading is relatively high, so value is also becoming high. Right now, the change of Bitcoin currency is 0.06% from yesterday.
The bitcoin price is currently 24642.79, up from yesterday’s level of 24628.82 but down from 40073.50 from one year ago.
The change from yesterday is 0.06%, while the difference from a year ago is -38.51%.
By 2023, according to a study, the price of bitcoin will have risen to USD 42,664. A second Bitcoin price forecast states that at the start of 2023, the price of Bitcoin might be about USD 37,450. The lowest Bitcoin price this year is anticipated to be USD 65,000.