Bitcoin Price Rise From the Ashes! Why Should You Buy BTC Below $53K?

Bitcoin Price Rise From the Ashes! Why Should You Buy BTC Below $53K?

The post Bitcoin Price Rise From the Ashes! Why Should You Buy BTC Below $53K? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Protagonists and analysts across the crypto market acknowledge that HODLers, especially long-term holders likely be the recipients of prospective Bitcoin price moves ahead. On Tuesday,  increased bets on buying the dip have gradually uplifted the wider crypto space. Notably, the top cryptocurrencies of the space quickly restored their momentum. However, as the majority of the altcoins forfeited their gains, cash-flow tunes in for BTC price action. 

Bitcoin Big Bull Run Underway!

A crypto analyst TechDev is likely to be pretty much convinced with Bitcoin’s replication of past rallies and hopeful of a probable breakout ahead. The technicals indicated by him highlight the resemblance of its early October structure when the star crypto claimed new ATH around $69,000 with over 25% profits. Currently, the asset is trading at crucial 50W MA RSI levels below 20. If it effectively breaks there, then the price would quickly surge by over 25 to 30%. 

On the other hand, the crypto analyst The Wold Of All Streets shared his view on the current market scenario. He is optimistic about the BTC bull run if the price manages to break above $53k. In case of a bearish move, the price would heavily plunge to $28k if it fails to gain strength around $42k. 

A crypto metric platform Santiment confirms the huge whale accumulation in a recent price drop. While Bitcoin price plunged to its multi-month low of $43.5k, retail whales holding between 10k to 100k BTC accumulated a record high of 67k more Bitcoin in just 3 days after the market crash. However, the investment move strives to prove the primary coin as a less risky asset. On the other hand, these whales would quickly liquidate in terms of any uncertainties, hence it is mandatory to do thorough research before investing. 

Collectively, Bitcoin price is hopeful of an incredible rally ahead. Analyst Dylan Leclair is likely to be pretty much convinced with the bull market ahead. The chart shown by him hints at a probable steep uptrend in the next couple of weeks. As December holds a high probability of massive leg up, the flagship asset would claim a new ATH. However, short-term holders and newbies are advised to be cautious of uncertainties such as market crashes or whale manipulations.