Bitcoin
BTC$48 068.38

-0.43%

Ethereum
ETH$3 564.24

-1.78%

Cardano
ADA$2.43

-1.86%

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BNB$423.38

-1.83%

Tether
USDT$1.000511

0.01%

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-2.04%

Bitcoin tries to break $40K for the second time in as many days


28 Jul 2021   #Bitcoin

After six weeks pacing between $30,000 and $36,000, BTC’s price is now hovering around $40,000 resistance once again in two days. Bitcoin’s (BTC) volatility made headlines again after the original cryptocurrency briefly reclaimed its $40,000 mark before going back to $39,000 levels. Coming after a two-week-long bearish loom that started on July 15, this is the second time Bitcoin is trying to break $40,000 resistance in as many days. 

Based on the data from Cointelegraph Markets Pro and TradingView, BTC witnessed a bull run for trading pair BTC/USD from 21 July that resulted in a spike of 34.13% in just seven days. 

The crypto community attributes the rising BTC price directly to the increased involvement of traditional banks and entrepreneurs such as Elon Musk and Michael Saylor. This week, Amazon’s rumored involvement in crypto also pushed the price, although the tech giant later denied those rumors.

While the current price indicators suggest that Bitcoin may stick to its ongoing support of the $30,000–$40,000 mark, BTC is yet to see a positive change of $20,000 before it can reach its former glory of $60,000. What may seem like a good indication, the sudden push to exit an immediate resistance does not accompany the $30,000 corridor. By the time of writing, Bitcoin’s price is closing in on $39,500.

In a recent survey conducted by CNBC on a group of portfolio managers and equity strategists, 44% of the respondents felt that Bitcoin’s price would fall down below $30,000. The other 56% of investors showed a more bullish outlook, with 6% hoping to see Bitcoin reach $60,000, near its $65,000 all-time high.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86.4% 24 $48 068.38 -0.43% 2.90% $904 552 592 109 $30 966 097 189
2 Ethereum (ETH) ETH Ethereum predictions 72% 52 $3 564.24 -1.78% 3.14% $418 997 277 161 $18 764 428 420
3 Cardano (ADA) ADA Cardano predictions 68% 64 $2.43 -1.86% -4.99% $77 762 171 546 $3 085 080 557
4 Binance Coin (BNB) BNB Binance Coin predictions 63.6% 70 $423.38 -1.83% -1.23% $71 186 613 232 $1 670 523 937
5 Tether (USDT) USDT Tether predictions 96% 1 $1.000511 0.01% 0.05% $68 288 855 645 $74 100 163 467
6 XRP (XRP) XRP XRP predictions 70.4% 55 $1.096014 -2.04% -3.72% $51 098 642 600 $2 972 959 907
7 Solana (SOL) SOL Solana predictions 58.4% 89 $149.74 -5.57% -21.61% $44 447 194 000 $3 259 409 601
8 Polkadot (DOT) DOT Polkadot predictions 59.2% 83 $36.69 2.33% 14.49% $36 235 518 897 $2 308 494 829
9 Dogecoin (DOGE) DOGE Dogecoin predictions 69.2% 65 $0.257382 4.84% 0.32% $33 796 922 711 $1 760 021 804
10 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000184 0.01% 0.02% $29 237 308 733 $2 846 778 419
11 UniSwap (UNI) UNI UniSwap predictions 69.6% 56 $25.95 -4.24% 8.79% $15 869 589 993 $590 249 626
12 Terra (LUNA) LUNA Terra predictions 66.4% 67 $36.55 0.26% 12.35% $14 691 406 586 $1 543 465 878
13 Avalanche (AVAX) AVAX Avalanche predictions 67.6% 69 $64.75 9.96% 46.82% $14 264 323 937 $2 618 327 427
14 Chainlink (LINK) LINK Chainlink predictions 73.6% 56 $30.07 -4.45% 3.96% $13 594 035 693 $1 522 191 986
15 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $1.000216 0.01% 0.02% $12 747 588 570 $6 369 639 162

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