London, Europe Brief News- One of the most radical cryptocurrency critics believes the BTC price will crash to $10,000 in 2022. However, a middle road might be that the cryptocurrency can still reach $100,000, as several experts projected late last year, only on a slower time frame.
BTC Price
Jason Pizzino, a well-known trader, and expert, believes that Bitcoin (BTC) will continue to rise if the flagship cryptocurrency asset maintains its current momentum. Pizzano told his 267,000 YouTube viewers that bitcoin would reach new highs after breaking over major resistance levels, trading at $31,621.
If we break over these resistance levels, stabilize, and proceed with higher highs and lower lows, the next significant levels are $48,000 and $52,000. He goes on to argue that bitcoin demands a lot of work at the lower levels because we are going too far ahead of ourselves to consider reaching the high $40,000s or even the low $50,000s.
The first two resistance levels that Bitcoin must clear. To hit further high points are $32,800 and $34,500, correspondingly. “The 50 [fibonacci retracement level] is slightly a little above $32,700. Thus far, a round figure exceeding $32,800. As a result, our initial level is $32,000, and the following level is perhaps the most crucial.
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So, $34,500 that’s our significant 50 [Fibonacci retracement] level from an all-time high [of $69,044] to zero. As of now, we have $32,800 and $34,500.” Furthermore, Pizzano draws attention to the third resistance level. That is located around the $38,000 price. It is about $37,500, and a round amount over that may be termed $38,00.
Therefore, the three resistance levels we’re looking at right now are as follows: the first is approximately $32,800, followed by $34,500. The third floor is about $38,000. Given this, crypto specialists predict that bitcoin will soar higher after stabilizing over the third resistance level, which is $38,000.
“If we can surpass all of these [resistance levels] sooner than expected, we’ll be able to integrate above the $38,000 mark and push our way higher.” reports an article.
Also Read: Bitcoin Tested $32K, Cardano Price Explodes 15% Daily
Prediction of BTC Price
Because most people are still unfamiliar with cryptocurrency, it’s fine to wait and observe how things develop before investing your money at risk. We only have around ten years’ worth of data to base crypto price projections on. And the value of BTC price, while theoretically rising over time, is very unpredictable from day to day.
