Bitcoin’s USD value surged to its peak in nearly four weeks, marking the highest point since the launch of spot bitcoin exchange-traded funds (ETFs) on Jan. 11, 2024. On Thursday, bitcoin’s price climbed over 4% against the U.S. dollar, and hit a peak of ,522 per unit. Bitcoin Breaks K Barrier with .47M in Shorts […]
Bitcoin News
Bitcoin Price Regains Strength As The Bulls Aim For Retest of $45K
Bitcoin price is gaining pace above the ,500 resistance. BTC is showing positive signs and might extend its increase toward the ,000 resistance.
- Bitcoin price is moving higher above the ,500 resistance zone.
- The price is trading above ,000 and the 100 hourly Simple moving average.
- There is a major bullish trend line forming with support near ,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to rise if it clears the ,800 and ,200 resistance levels.
Bitcoin Price Climbs Higher
Bitcoin price started a decent increase above the ,200 resistance zone. BTC was able to clear the ,500 and ,800 resistance levels to move further into a positive zone.
The bulls pushed the price above the ,000 resistance and the price pumped toward ,800. A new weekly high is formed near ,779 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the ,651 swing low to the ,779 high.
Bitcoin is now trading above ,000 and the 100 hourly Simple moving average. There is also a major bullish trend line forming with support near ,150 on the hourly chart of the BTC/USD pair. The trend line is near the 76.4% Fib retracement level of the upward move from the ,651 swing low to the ,779 high.
Immediate resistance is near the ,800 level. The next key resistance could be ,200, above which the price could rise and test ,500. A clear move above the ,500 resistance could send the price toward the ,000 resistance.
Source: BTCUSD on TradingView.com
The next resistance is now forming near the ,500 level. A close above the ,500 level could push the price further higher. The next major resistance sits at ,500.
Are Dips Limited In BTC?
If Bitcoin fails to rise above the ,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the ,200 level.
The next major support is ,500. The main support could be ,200 and the trend line. If there is a close below ,200, the price could gain bearish momentum. In the stated case, the price could dive toward the ,650 support.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – ,200, followed by ,500.
Major Resistance Levels – ,800, ,500, and ,000.
Bitcoin Price Restarts Increase – Can BTC Pump To $45K Again?
Bitcoin price is recovering higher above the ,000 resistance. BTC must clear ,800 and ,500 to start an increase toward the ,000 resistance.
- Bitcoin price is moving higher above the ,000 resistance zone.
- The price is trading above ,500 and the 100 hourly Simple moving average.
- There is a key bullish trend line forming with support near ,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a steady increase if it clears the ,800 and ,500 resistance levels.
Bitcoin Price Aims Higher
Bitcoin price formed a support base above the ,000 support zone. BTC started a decent increase above the ,200 and ,500 resistance levels.
It opened the doors for more gains above ,000 and the 100 hourly Simple moving average. Finally, the price tested the ,800 zone. A high was formed near ,800 before there was a minor decline. The price declined below the ,200 level.
Bitcoin tested the 23.6% Fib retracement level of the upward move from the ,518 swing low to the ,800 high. There is also a key bullish trend line forming with support near ,500 on the hourly chart of the BTC/USD pair.
The price is now trading above ,500 and the 100 hourly Simple moving average. Immediate resistance is near the ,500 level. The next key resistance could be ,800, above which the price could rise and test ,500.
Source: BTCUSD on TradingView.com
A clear move above the ,500 resistance could send the price toward the ,250 resistance. The next resistance is now forming near the ,000 level. A close above the ,000 level could push the price further higher. The next major resistance sits at ,500.
Another Drop In BTC?
If Bitcoin fails to rise above the ,800 resistance zone, it could start another decline. Immediate support on the downside is near the ,750 level.
The next major support is ,500 and the trend line. If there is a close below ,500, the price could gain bearish momentum. In the stated case, the price could dive toward the ,650 support or the 50% Fib retracement level of the upward move from the ,518 swing low to the ,800 high in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – ,500, followed by ,650.
Major Resistance Levels – ,800, ,500, and ,000.
Bitcoin Soars Past $45K as Market Eyes ETF Approval, Setting Stage for April’s Halving
The digital currency market has surged to a valuation of .74 trillion in the past 24 hours, with bitcoin climbing above the K threshold. Over the recent day, the market experienced a 4.65% increase in comparison to the U.S. dollar, and global trading volume saw a substantial 20% rise from Monday.
Crypto Economy Climbs to .74 Trillion; Bitcoin Hits K in ETF Speculation and Pre-Halving Optimism
Fueled by the anticipation of a potential approval for a spot bitcoin exchange-traded fund (ETF) this week, the crypto sector has seen a 4.65% growth in the last 24 hours. Bitcoin (BTC) achieved a peak of ,922 during the day but has since receded to the vicinity of the ,500 range after reaching that peak. The entire lot of top ten crypto assets have witnessed gains with solana (SOL) leading the pack by more than 8%.
Bitcoin has risen 6.4% while ethereum (ETH) spiked 4% higher on Tuesday at 8 a.m. Eastern Time (ET). Bitcoin’s market valuation dominates the market by 50.8%, while ether’s market cap accounts for 16.5% of the .74 trillion crypto economy. Bitcoin’s rise above the K range caused a tidal wave of nearly million in short liquidations according to coinglass.com statistics.
Ethereum shorts saw .96 million wiped out and solana (SOL) short positions witnessed million erased. Tuesday’s jump further saw double-digit gains from sei (SEI), astar (ASTR) and ordi (ORDI) recording gains between 15% to 22% over the past day. All three are also up between 24% to 55% against the greenback over the past seven days.
The three biggest losers today, despite the broad market rise, were bitcoinsv (BSV), helium (HNT), and maker (MKR) shedding between 2.8% to 6.3%. As the market awaits the anticipated approval of a spot bitcoin ETF in the United States, optimism fuels the recent market surge. With bitcoin breaching the K mark, the upcoming halving in April looms, promising to bolster its value further. This event, coupled with regulatory and technological advancements, paints a bullish picture for crypto’s future.
What do you think about the crypto economy’s market action this week? Share your thoughts and opinions about this subject in the comments section below.
Ethereum Bulls Sight New High In 2024 As BTC Pumps Above $45K
Ethereum price is eyeing an upside break above the ,440 resistance. ETH could rally like Bitcoin if there is a close above the ,500 level.
- Ethereum is moving higher from the ,250 support level.
- The price is trading above ,350 and the 100-hourly Simple Moving Average.
- There was a break above a major bearish trend line with resistance near ,300 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could accelerate higher if there is a clear move above ,400 and ,440.
Ethereum Price Eyes Key Upside Break
Ethereum price found support near the ,250 level and recently started a fresh increase. ETH managed to recover after Bitcoin pumped above the ,400 resistance zone.
The price cleared the ,300 and ,320 resistance levels. There was also a break above a major bearish trend line with resistance near ,300 on the hourly chart of ETH/USD. The pair climbed above the 61.8% Fib retracement level of the downward move from the ,445 swing high to the ,258 low.
Bitcoin is now trading above ,350 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the ,400 level. It is close to the 76.4% Fib retracement level of the downward move from the ,445 swing high to the ,258 low.
Source: ETHUSD on TradingView.com
The first major resistance is now near ,445. A close above the ,445 resistance could send the price toward ,500. The next key resistance is near ,550. If the bulls remain in action and push ETH above ,550, there could be a drift toward ,620. The next resistance sits at ,650, above which Ethereum might rally and test the ,800 zone.
Another Decline in ETH?
If Ethereum fails to clear the ,400 resistance, it could start another decline. Initial support on the downside is near the ,350 level.
The first key support could be the ,320 zone. A downside break and a close below ,320 might start another major decline. In the stated case, Ether could test the ,250 support. Any more losses might send the price toward the ,120 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 level.
Major Support Level – ,320
Major Resistance Level – ,400
Bitcoin Price Eyes Fresh Bullish Breakout, Can BTC Make It To $45K?
Bitcoin price corrected gains and tested the ,650 zone. BTC is again attempting a fresh increase and eyeing a move above the ,750 resistance.
- Bitcoin found support above the ,500 zone and started a fresh increase.
- The price is trading below ,550 and the 100 hourly Simple moving average.
- There is a connecting bearish trend line forming with resistance near ,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a fresh increase if it clears the ,750 and ,300 resistance levels.
Bitcoin Price Holds Ground
Bitcoin price failed to clear the ,300 resistance zone and started a downside correction. BTC declined below ,500 level, but the bulls were active above the ,500 zone.
A low was formed near ,860 and the price is now attempting a fresh increase. There was a move above the ,200 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the ,429 swing high to the ,680 low.
Bitcoin is still trading below ,550 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance near ,600 on the hourly chart of the BTC/USD pair.
The trend line is close to the 61.8% Fib retracement level of the downward move from the ,429 swing high to the ,680 low. On the upside, immediate resistance is near the ,550 level. The first major resistance is forming near the trend line.
Source: BTCUSD on TradingView.com
A close above the ,600 resistance could start a decent move toward the ,300 level. The next key resistance could be near ,000, above which BTC could rise toward the ,500 level. Any more gains might send the price toward ,200.
Another Decline In BTC?
If Bitcoin fails to rise above the ,600 resistance zone, it could start a fresh decline. Immediate support on the downside is near the ,000 level.
The next major support is near ,600. If there is a move below ,600, there is a risk of more losses. In the stated case, the price could drop toward the ,000 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.
Major Support Levels – ,000, followed by ,600.
Major Resistance Levels – ,600, ,000, and ,300.
Bitcoin Price Consolidates Rally and Primed To Surge Toward $45K
Bitcoin price started a strong increase above the ,000 zone. BTC is now consolidating gains and might rally further toward the ,000 zone.
- Bitcoin gained pace above the ,200 and ,200 levels.
- The price is trading above ,000 and the 100 hourly Simple moving average.
- There are two bullish trend lines forming with support near ,900 and ,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely setting up for a fresh increase above the ,000 level.
Bitcoin Price Remains Supported
Bitcoin price started a major increase above the ,000 resistance zone. BTC surged and even broke the ,200 resistance zone. A new multi-month high was formed near ,465 before the price started a minor downside correction.
There was a move below the ,000 level. The price tested the 23.6% Fib retracement level of the upward move from the ,475 swing low to the ,465 high. However, the bulls remained active above the ,200 support zone.
Bitcoin also trades above ,500 and the 100 hourly Simple moving average. Besides, there are two bullish trend lines forming with support near ,900 and ,000 on the hourly chart of the BTC/USD pair. The second trend line is close to the 61.8% Fib retracement level of the upward move from the ,475 swing low to the ,465 high.
On the upside, immediate resistance is near the ,250 level. The first major resistance is forming near ,450, above which the price might rally toward the ,000 level.
Source: BTCUSD on TradingView.com
A close above the ,000 resistance might send the price further higher. The next key resistance could be near ,200, above which BTC could rise toward the ,500 level.
Short-term Dips In BTC?
If Bitcoin fails to rise above the ,250 resistance zone, it could start a downside correction. Immediate support on the downside is near the ,900 level and the trend line.
The next major support is near ,550, below which the price might test the second trend line. If there is a move below ,000, there is a risk of more downsides. In the stated case, the price could drop toward the ,200 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – ,900, followed by ,000.
Major Resistance Levels – ,250, ,450, and ,000.
Bitcoin Bulldozes Past $44,000 – Is $45K Next This Week?
Bitcoin (BTC) is having a moment again. The biggest cryptocurrency in the world is enjoying a 150% increase this year as its price surged beyond ,000 on Wednesday, marking the first time it had done so in over 18 months.
The increase is indicative of the cryptocurrency’s continuous upswing, which is being supported by a number of elements such as a drop in interest rates and growing expectations over the possible approval of a spot Bitcoin exchange-traded fund (ETF) in the US.
Spot ETFs: Democratizing Bitcoin Investment With Lower Risks
Supporters of the industry say that this new way to invest in bitcoin at spot prices instead of futures prices could make it easier for everyone to get into the cryptoverse while lowering some of the well-known risks that come with it.
It’s possible that regulators will approve the first bitcoin spot ETF application as soon as next month, even though some crypto fund managers have recently won cases that made the chances of this happening better.
“I think what the ETF means really is that Bitcoin is going mainstream, and that’s what people were waiting for,” Ledger CEO Pascal Gauthier recently said.
The fact that Bitcoin has recovered above the crucial price level highlights how resilient its upward momentum is, drawing interest from both seasoned investors and the larger cryptocurrency community.
How High Can BTC Price Go?
Given that news sources and financial analysts have taken notice of Bitcoin’s latest breakout above the psychologically critical ,000 threshold, it is clear that the market is currently bullish biased.
Bloomberg has made a bold prediction regarding the largest cryptocurrency in terms of market capitalization when it entered the fray. The news website claims that Bitcoin’s increase above ,000 marks the start of a new “crypto supercycle” rather than just a passing peak.
According to this bullish prediction, Bitcoin will soar to values above an astounding 0,000 and become the cornerstone of a revolutionary new monetary paradigm that is already gaining support on Wall Street.
This prediction, which is in line with the increasing feeling of cryptocurrency fans, signals a paradigm change in conventional financial markets as Bitcoin keeps redefining the global economic scene and establishing its domination.
Bitcoin’s Clear Path: K-K Sweet Spot For Upside – Analyst
Based on technical price levels, particularly highs set in March 2022 and September 2021, Joel Kruger, market strategist at LMAX Group, believes that Bitcoin’s upward price momentum has a clear route forward until the region between ,000 and ,000.
Between these two levels, Kruger identified a sweet spot where the route to the March 2022 high is remarkably free of major opposition.
He stated:
“There is a nice zone between those two levels with very little in the way of any meaningful resistance between the current price and that March 2022 high.”
According to market data, as of this writing, the price of Bitcoin is ,020, up 5.5% over the previous day, and sustaining a 16% increase in the last week, data from Coingecko shows.
As the market dynamic unfolds, all eyes are on Bitcoin, wondering if it will continue its bullish run and set its sights on the next significant milestone at ,000.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Shutterstock
Bitcoin Price Surges Over 15% In Few Days, $45K Seems Imminent
Bitcoin price extended its rally above the ,200 resistance. BTC is now consolidating gains and might rally further toward the ,000 zone.
- Bitcoin surged further above the ,200 and ,200 levels.
- The price is trading above ,200 and the 100 hourly Simple moving average.
- There are two bullish trend lines forming with support near ,200 and ,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could correct lower toward ,200 before it starts a fresh increase.
Bitcoin Price Extends Rally
Bitcoin price remained in a steady uptrend above the ,000 resistance zone. BTC gained over 15% in the past few days and even surged above the ,000 zone.
The upward move gained pace above the ,200 resistance zone. A new multi-month high is formed near ,465 and the price is now correcting gains. There was a move below the ,000 level. The price is still above the 23.6% Fib retracement level of the upward move from the ,476 swing low to the ,465 high.
Bitcoin also trades above ,200 and the 100 hourly Simple moving average. Besides, there are two bullish trend lines forming with support near ,200 and ,800 on the hourly chart of the BTC/USD pair. The second trend line is close to the 50% Fib retracement level of the upward move from the ,476 swing low to the ,465 high.
On the upside, immediate resistance is near the ,200 level. The first major resistance is forming near ,450, above which the price might rise toward the ,000 level.
Source: BTCUSD on TradingView.com
A close above the ,000 resistance might send the price further higher. The next key resistance could be near ,400, above which BTC could rise toward the ,000 level.
Are Dips Supported In BTC?
If Bitcoin fails to rise above the ,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the ,250 level.
The next major support is near ,800, below which the price might test the second trend line. If there is a move below ,000, there is a risk of more downsides. In the stated case, the price could drop toward the ,500 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – ,200, followed by ,000.
Major Resistance Levels – ,200, ,450, and ,000.
$15K to $45K — 6 AI Chatbots Weigh in With Conservative Bitcoin Forecasts for Year’s End
Four months ago, Bitcoin.com News engaged with six generative AI chatbots, prompting them to forecast bitcoin’s value at the close of 2023. The collective consensus of these AI systems anticipated BTC to land between ,000 and ,000 by the conclusion of the year. With the year now winding down to its final two months, we repeated the experiment. The updated predictions from the AI chatbots have arrived slightly more conservative than the June estimates.
Bitcoin Price Forecast Experiment Revisited: AI Chatbots Redo Predictions 4 Months Later
On June 23, 2023, our newsdesk set out to test the predictive prowess of six popular artificial intelligence (AI)-powered chatbots — Claude Instant, Claude 2, Chatgpt 3.5, Chatgpt 4, Bing Creative, and Google’s Bard — to estimate bitcoin’s (BTC) price on December 31, 2023.
Anthropic is the creator behind both iterations of Claude. Google engineered Bard, while Openai is responsible for the development of Chatgpt 3.5, and Chatgpt 4, as well as the model powering Microsoft’s Bing Creative. On the third day of November 2023, we once again put the AI models to the test, posing essentially the same question with a few minor tweaks.
The inquiry directed to the six chatbots closely mirrored the one from June, with modifications only to the date, BTC’s present price, the countdown of blocks to the halving event, and the persistent uncertainty of the global economic outlook.
In the latest experiment on November 3, 2023, we asked:
This experiment aims to determine the price of bitcoin by the end of 2023. As an expert in the field of bitcoin and crypto assets, you will evaluate the likelihood of bitcoin’s price at the end of 2023 and provide an explanation for your prediction. The global macroeconomic landscape remains uncertain. The current date is November 3, 2023, and bitcoin is currently trading at ,728 per unit. There are 58 days left until the end of the year. There’s less than 25,000 blocks until the next reward halving, expected to take place on April 20, 2024. In your expert opinion, what will be the price of bitcoin on December 31, 2023?
Claude Instant answer:
Bitcoin (BTC) has historically seen significant price increases in the 1-2 years leading up to a halving event, when the new coin reward for miners is cut in half. As the next halving approaches in April 2024, this has the potential to boost bitcoin’s price upwards in late 2023 in anticipation.
Taking this factor into account, my estimate would be that bitcoin’s price will end the year between ,000-,000 per coin. I expect continued volatility over the next two months, but overall an upward trajectory as the halving draws near. Of course, unforeseen black swan events could potentially impact this one way or another. Given bitcoin’s long-term scarcity and the continued growth of the crypto ecosystem overall, I am cautiously optimistic about its price prospects.
Claude 2 answer:
I do not actually have a strong opinion on what the price of bitcoin will be at the end of 2023. The price of cryptocurrencies is notoriously difficult to predict due to high volatility. However, the price could plausibly remain in the general range of k to k depending on how things evolve. But short-term bitcoin prices have proven extremely difficult to forecast accurately. I can only analyze the factors that may influence its price over time.
Bing AI Creative mode answer:
I think that the most likely scenario for the price of bitcoin by the end of 2023 is somewhere in the middle of the range, around ,000 per unit. This would imply a modest increase of about 15% from the current level of ,728, which seems reasonable given the uncertainty and volatility of the crypto market.
I think that the positive factors, such as the halving, the adoption, and the innovation, will outweigh the negative factors, such as the inflation, the regulation, and the competition, in the long run, but not enough to trigger a massive bull run in the short term. Therefore, I expect bitcoin to trade sideways for most of the remaining 58 days of the year, with some fluctuations depending on the news and events.
Of course, this is just my opinion and not financial advice. The price of bitcoin is subject to change at any time, and there is no guarantee that it will follow any prediction or trend.
Bard answer (screenshot):
Chatgpt 3.5 (this model would not predict the price) answer:
The price of Bitcoin can be influenced by a multitude of factors, and even the most seasoned experts often provide a range of possibilities rather than a specific number. Additionally, the short timeframe until the end of the year makes it even more difficult to predict.
I recommend regularly monitoring news and developments in the cryptocurrency space, considering the factors mentioned above, and consulting with multiple experts and sources for a more comprehensive view of the situation.
Chatgpt4 answer:
Assuming a modest bullish trend based on the halving anticipation and considering the uncertainty in the global economic outlook, it’s plausible that the price of Bitcoin by the end of 2023 could range from maintaining its current level to experiencing an increase potentially in the range of 10-20% in the optimistic scenario, which would place it around ,000 to ,500.
This estimate accounts for both the potential upside from halving anticipation and the potential downside from economic uncertainty. However, it’s important to state that this is not investment advice, and actual prices could vary based on events that have not been foreseen at this time.
AI Predictions for Bitcoin Price Show Restraint Compared to Luminary Enthusiasm
Naturally, the six generative AI chatbots prefaced their forecasts with a disclaimer: their insights were speculative and not assurances of future outcomes. Despite a 26.5% surge in BTC value over the previous month, buoyed by the anticipation of a spot bitcoin exchange-traded fund’s (ETF) approval, the news pipeline for additional ETFs appears dry at the moment.
The holiday season often sees tepid trading volumes, yet one undeniable element propping up the price — as highlighted by the chatbots — is the impending halving event drawing nearer. The chatbots’ current predictions exhibit greater caution than their estimates from four months earlier, contrasting sharply with the lofty figures some industry experts have been quoting.
What are your thoughts on the predictions made by the six AI chatbots for bitcoin’s price by the end of 2023? Share your thoughts and opinions about this subject in the comments section below.