Bitcoin
BTC$63 955.55

-3.64%

Ethereum
ETH$3 135.39

-3.61%

Tether
USDT$0.999972

0.01%

Binance Coin
BNB$612.50

-0.10%

Solana
SOL$146.06

-7.08%

USD Coin
USDC$1.000062

0.02%

Bitcoin hits $37.5K amid warning Thursday will see next BTC price correction


10 Jun 2021

#Bitcoin

The good times will be temporarily over once again on Thursday, one trader predicts, despite this week’s 20% gains. Bitcoin (BTC) neared $38,000 in a strong comeback on Thursday, but forecasts are mounting over an imminent retracement.

Price drop on the menu for Thursday

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local highs of $37,500 overnight on Wednesday, maintaining higher levels since. Versus its lows at the start of the week, the pair was up over 20% at the high. However, despite its gains, few traders believe that Bitcoin will stay strong for long. As Cointelegraph reported, demands for a dip below $30,000 support have remained in play throughout recent days.

According to popular Twitter account Crypto Tony, Thursday will mark the day that the cooldown takes hold. He had previously mapped out a possible dip to around $27,000 in line with various other predictions.

“So will today be the day we get that wave 2 drop or the C wave drop on Bitcoin,” he wrote in his latest update. “Either way I will be looking to buy this retracement, but just depends where we stop off too.”

Fellow trader Crypto Cobra, meanwhile, demands a broad 20% correction for the entire crypto market capitalization, something of which he remains convinced, provided that BTC/USD is below $42,000.

Optimistic floor now at $32,000

Others were less brazen with their projections. Analyzing the four-hour chart on Thursday, Crypto Ed considered a bounce level nearer $32,000 should another leg down be necessary.

“Not really clear this morning, hard to find the pieces of the puzzles and I could be totally wrong, hence only a 4hr chart,” he explained. “As long as I don’t see a strong rejection, I stick with this bullish scenario (because I like the reactions from the perma bears who didn’t buy the dip).”

Good news from multiple sources has buoyed the Bitcoin narrative in particular in recent days. El Salvador’s adoption announcement seemed to have a latent impact on markets, while on Wednesday, $157-billion asset manager Victory Capital joined the crypto bandwagon.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 85.6% 27 $63 955.55 -3.64% 3.87% $1 259 281 241 035 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 50 $3 135.39 -3.61% 4.31% $382 668 925 881 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $0.999972 0.01% -0.05% $110 460 385 592 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 86.4% 19 $612.50 -0.10% 12.17% $90 398 087 486 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 65.6% 71 $146.06 -7.08% 11.67% $65 296 643 525 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 92% 2 $1.000062 0.02% -0.01% $33 441 952 478 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 68.8% 62 $0.523047 -4.00% 6.67% $28 835 138 199 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 60 $0.149810 -7.03% 3.43% $21 576 699 602 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 70.4% 66 $5.29 -8.34% -12.00% $18 370 555 699 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 68% 72 $0.469482 -5.47% 5.53% $16 729 465 636 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 60.8% 82 $0.000025 -7.53% 14.25% $14 689 490 721 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 67.6% 68 $35.24 -9.77% 3.30% $13 322 592 836 AVAX 7 days price change
13 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
14 TRON (TRX) TRX TRON predictions 86.4% 21 $0.114643 1.09% 4.64% $10 039 749 051 TRX 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 88% 19 $0.114234 0.54% 4.43% $10 003 923 597 WTRX 7 days price change

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