Bitcoin is displaying remarkable tenacity. Following its recent dip, Bitcoin has rebounded, with its current trading price at $26,919, marking a modest 0.53% increase over the past day. In this Bitcoin price prediction, we analyze whether Bitcoin price will go up soon.
This surge positions Bitcoin’s total market capitalization at an impressive $525.29 billion. According to recent data from CoinMarketCap, Bitcoin firmly holds its top spot.
With nearly 19.51 million BTC in circulation from its total cap of 21 million, Bitcoin’s present stability is undeniable. But does this hint at an upcoming shift in trend?
Bitcoin Price Analysis: What happened to Bitcoin?
Analyzing Bitcoin’s technical data for October 14, based on a 4-hour chart, a pivotal point emerges at $26,500. On the upside, Bitcoin faces its initial resistance at $28,000, with subsequent barriers at $29,000 and $30,500.
Conversely, the first support level is at $25,400, with additional supports at $23,900 and $22,800.
Bitcoin Price Prediction: Will Bitcoin Price GO UP?
Bitcoin prices breached the $27,000 price, which indicates a potential bearish medium-term price action. If Bitcoin fails to retrace higher, its trajectory would continue bearish. However, surpassing this level could signal a bullish turn. Market experts foresee Bitcoin potentially reaching the mentioned resistance levels in upcoming sessions.
The $26,600 price seems like a strong support, so we’ll need to see how Bitcoin prices behave around such important support price area.
Where to Buy Bitcoin?
For those interested in venturing into Bitcoin, Bitpanda offers a seamless and secure platform. Here’s a brief guide to buying Bitcoin on Bitpanda:
- Register for an account on Bitpanda.
- Complete the necessary identity verification.
- Deposit your preferred currency.
- Search and select Bitcoin.
- Choose the amount you wish to purchase and finalize the transaction.
