- Bitcoin (BTC) reaches back to $62K.
- Many predict a downfall to about $56K soon.
- Amidst the downfall, BTC is to hit a new ATH.
The Bitcoin (BTC) reaching it’s all-time-high (ATH) steals the thunder majorly for the month of October. The entire crypto industry has gone through a massive celebration upon reaching an ATH of $66,974.77.
In spite of this, many say that the ATH of BTC will not end this for the year. Accordingly, predictions reveal that there are high possibilities for BTC to reach $70K within the end of 2021.
However, BTC plunged down below $60K a few days back. Despite this, BTC still surged back above $62K over the past 24 hours.
BTC Price Trends
About a few days back BTC plunged down below $60K to around $58K. The same remained for a time period of two days. However, over the past few hours the price of BTC sprung back above the $60K target, reaching $62,927.71.
In spite of this, the price of BTC remains in bullish trends. Despite reaching $62K, BTC fell back again to $60K. Accordingly, it is analyzed that for BTC to again bounce back above $62K, BTC has to fall back below the price of $60,216 respectively.
Moreover, apart from the next resistance of $62,826, if BTC surpasses it, then the next resistance is ought to be $63K definitely.
Furthermore, if the price falls below $60K, it is ought to not fall below the previous down of $57,998.
Cred’s Views on BTC Price
Cred, being one of the most avid crypto analysts, puts forward his views for BTC at present trend. In spite of this, Cred terms that there are chances of BTC for dropping below $52K, under the market’s leverage conditions.
Besides, if the coming downfall for BTC staggers between $56K to $58K, then this will for sure be the best support for BTC to surge epically above $63K.
Therefore, if maintained above the price range of $56K , BTC will tend to remain bullish effortlessly.