Bitcoin
BTC$70 181.59

-0.59%

Ethereum
ETH$3 549.53

-0.77%

Tether
USDT$1.000206

0.07%

Binance Coin
BNB$615.62

4.81%

Solana
SOL$185.71

0.24%

XRP
XRP$0.629847

1.42%

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.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.8% 42 $70 181.59 -0.59% 9.12% $1 380 285 312 968 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76% 50 $3 549.53 -0.77% 4.33% $426 194 485 316 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $1.000206 0.07% -0.01% $104 525 818 800 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 63.6% 80 $615.62 4.81% 8.81% $92 057 057 069 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 61.2% 88 $185.71 0.24% 7.54% $82 530 358 500 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 84% 28 $0.629847 1.42% 2.16% $34 568 671 339 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92% 2 $1.000077 0% 0% $32 492 648 969 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 70% 66 $0.213858 -1.24% 37.38% $30 723 668 610 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 67.6% 66 $0.652274 0.14% 5.07% $23 210 538 187 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 60.4% 87 $53.79 -0.95% -1.78% $20 299 633 012 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 54.8% 94 $0.000031 -4.56% 14.80% $18 193 408 608 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 60.4% 86 $4.91 -0.70% 14.73% $17 036 072 542 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 73.6% 49 $9.56 -0.09% 5.57% $13 642 215 721 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 72.4% 57 $634.20 10.67% 56.80% $12 482 514 661 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 80% 42 $18.96 -3.16% 5.47% $11 130 742 548 LINK 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.