Bitcoin
BTC$23 417.82

-0.63%

Ethereum
ETH$1 661.88

0.91%

Tether
USDT$1.000131

0%

Binance Coin
BNB$332.92

1.94%

USD Coin
USDC$0.999885

0%

XRP
XRP$0.411251

0.08%

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 64.4% 76 $23 417.82 -0.63% 1.15% $451 514 389 015 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68% 64 $1 661.88 0.91% 3.64% $203 370 239 782 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.2% 1 $1.000131 0% 0% $68 037 505 087 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78.4% 39 $332.92 1.94% 7.73% $52 567 670 570 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999885 0% -0.03% $41 955 221 400 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 72.8% 51 $0.411251 0.08% -0.76% $20 891 185 117 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $1.000291 -0.02% 0.01% $16 277 011 211 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 63.6% 69 $0.402084 0.04% 1.59% $13 912 162 701 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 77.6% 48 $0.094571 3.60% 7.39% $12 546 748 098 DOGE 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 66.8% 64 $1.24 3.79% 7.12% $10 812 206 732 MATIC 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 Solana (SOL) SOL Solana predictions 60.8% 88 $24.65 1.35% -0.13% $9 182 943 497 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 66% 74 $6.99 6.42% 5.28% $8 061 412 510 DOT 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.4% 79 $0.000014 16.05% 20.58% $7 810 721 768 SHIB 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 78% 38 $100.55 0.67% 12.99% $7 259 641 157 LTC 7 days price change

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