BitcoinPrice Analysis

Bitcoin Price Hovers Below $64k, Here is What On-Chain Analysts Have to Say!


Bitcoin traded yesterday and reached a high of $63,666 as it faces further depreciation. Before the return of rising momentum, purchasers will have to lift BTC’s price over the $64,000 high, as previously said. Bitcoin appears to be stuck in a range for a few days below the $64,000 high. As buyers attempt to retest the resistance level, the king currency is stabilizing below it today. At the time of writing bitcoin is trading at $60,529.


On-Chain Analysts 

Bitcoin’s price regression from the $60,000 level was dubbed the “second leg” of what appeared to be a long-term bull market by PlanB, the author of the popular Bitcoin Stock-to-Flow (S2F) model.

Tone Vays, a seasoned crypto trader, believes a critical price level will work as a breakout line for Bitcoin’s next price surge. 

Vays claims in a new strategy session that he expects BTC Price to fall much more to around $54,000, but that this may not happen. 

According to Vays, one more green daily close will bring BTC extremely close to $64,000, which he refers to as the “breakout line” for the king cryptocurrency. He believes the barrier of around $66,000 is insufficient to prevent additional climb.

Like mid-October into late December, I’m expecting us to go from that $65,000 all the way to $100,000. That is still my target.”

William Clemente, an on-chain analyst, is leading the market with one of the most bullish forecasts yet. In a recent tweet, he predicted a large Bitcoin closing price. 

The Delta top model is currently at $117,000, and it’s starting to trend upwards. We still have a long way to go, in my opinion. Is based on an investor cost basis and mean reversion, so as prices rise, it will likely finish up closer to $150k-175K by the end of the year, but that’s just an estimate.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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