News View Non-AMP

Bitcoin Price Still Remains Bullish Despite Bears Having The Control Over The Rally!

Written by: Sara K

December 4, 2021

The weekends appear to be completely bearish for the crypto space nowadays. The asset tend to shed huge gains during these times. Currently, the space witnessed yet another March 2020 or May 2021-type crash. Bitcoin price for the first time in the past couple of months slashed below $50K and currently hovering in the same region. Despite huge bearish sentiments, yet BTC price may rebound to smash local high soon. 

The crash arrived all of sudden while many expected a healthy weakend ahead. But still, most of them believe that the current dip may not be the end of bull market. Bitcoin is still testing one of the crucial areas and a notable boost may reinstall the bull rally yet again. And hence the market might have had it’s reset and currently it’s the time to push back. However, the key levels to hold is around $40K to keep bullish trend intact as per a popular analyst.

The analyst, il Capo Of NOIA, says the $40K levels are pretty crucial to maintain with a notable uptrend. The asset is expected to rebound before visiting these levels and undergo a decent uptrend towards the target set at $100K. However, on the contrary, the uptrend may be invalidated if the price slides below $40K and if it further plunges below $30K, the bull market may be over. 

Collectively, the current crash no doubt may have squeezed a lot of gains yet the possibilities of a substantial uptrend are still alive. The BTC price has marked 2 highs and 2 lows in the same year manifesting its strength during diverse market sentiments. And therefore, the loss from the current sell-off’s may also be recovered within few days.  

Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

Recent Posts

Institutional Interest Increases in Ethereum With The Merger Around The Corner

The Ethereum upgrade is all the hype these days and is highly anticipated due to…

August 13, 2022

This is When Ethereum (ETH) Price May Rise Above to Test the Upper Targets Close to its ATH

Ethereum price is soaring high displaying acute strength while the rise in the Bitcoin price…

August 13, 2022

Ethereum (ETH) Leaving Exchanges at Rapid Rate This Week, While Bitcoin Moving in the Opposition Direction

On August 12, Lucas Outumuro, head of research at analytics firm ‘IntoTheBlock' published weekly observations…

August 13, 2022

Here Is How Bitcoin Miners Pose A Threat To The Bitcoin Price Rally

Yesterday, the majority of the cryptocurrencies were flashing red as Bitcoin price lost its hold…

August 13, 2022

Top Predictions for the Coming Week! This Could be the Next Move for These Altcoins!

T he crypto space is undergoing a roller coaster ride since the beginning of the…

August 13, 2022

Ethereum Price At $2k- ETH Bull Run To Soon Find Its End, Claims Reports

The last couple of days have been extremely bullish for the crypto space, especially for…

August 13, 2022