Bitcoin
BTC$49 930.71

-0.82%

Ethereum
ETH$4 398.34

2.40%

Binance Coin
BNB$604.70

5.45%

Tether
USDT$0.999730

0%

Solana
SOL$191.21

1.34%

Cardano
ADA$1.37

0.31%

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 72.4% 48 $49 930.71 -0.82% -12.44% $943 470 946 757 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 80% 39 $4 398.34 2.40% -4.02% $521 916 919 372 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 78.8% 35 $604.70 5.45% -2.89% $100 865 065 822 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 93.6% 1 $0.999730 0% -0.14% $76 305 698 656 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 70.4% 61 $191.21 1.34% -15.62% $58 767 135 668 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 60.8% 77 $1.37 0.31% -11.42% $45 843 582 011 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $0.999084 0.05% -0.12% $41 003 048 789 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 68% 65 $0.853317 5.14% -12.95% $40 316 898 132 XRP 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 64% 70 $29.04 -1.01% -20.13% $28 675 211 460 DOT 7 days price change
10 Terra (LUNA) LUNA Terra predictions 63.6% 75 $74.31 8.29% 16.04% $28 302 225 841 LUNA 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 69.6% 65 $0.177706 0.12% -14.26% $23 535 429 066 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 65.6% 77 $91.59 3.37% -22.82% $22 238 588 785 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 60% 79 $0.000037 0.47% -14.04% $20 134 542 687 SHIB 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 66.8% 70 $2.33 1.51% 10.74% $16 487 352 139 MATIC 7 days price change
15 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 60% 78 $0.609756 -1.35% -15.04% $15 404 283 513 CRO 7 days price change

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