The Bitcoin price has now recovered well from its last crash and rose again over 43,000 dollars after a few days. The price had previously dropped below the $ 40,000 mark for the first time since September. However, with the current rise, the trend reversal into a bullish market could be imminent. Let’s talk about why Bitcoin might have reached the bottom and why a reversal upwards might be coming soon.
Bitcoin Price rises again above $43,000
At the beginning of the year, there was negative news for Bitcoin investors. Bitcoin prices crashed hard, falling from $ 46,000 to $ 42,000. In certain exchanges, the price fell below the $ 40,000 mark for the first time since September 2021. Today, on the other hand, BTC prices have since recovered.
The Bitcoin price has been increasing again for 2 days. Bitcoin passed the $ 43,000 mark on Wednesday 12th of January. The recovery lowers concerns that the Bitcoin price could fall again towards $ 30,000. However, there are now signs of a trend reversal for the market.
Did the Bitcoin Price reach the Bottom?
The slight recovery raises hopes that the current correction in the market has now bottomed out. We could see a development similar to that of the major correction in spring 2021. At that time, the new bans on Bitcoin mining in China caused a massive price correction for a few months.
Some pessimistic analysts had predicted that the Bitcoin price could fall even further. The reason for this would continue to be high open interest positions on the foreign exchange market and possible increases in key interest rates, including the US Federal Reserve.
Bitcoin Price Prediction – Can Bitcoin reach $50,000 again?
The first hurdle for a trend reversal would be reaching $ 46,000, which was a key support zone for a very long time back in December 2021. From this level, the Bitcoin price could attack the $ 50,000 again. At this past Christmas, the rate was turned down at $ 52,000 and dropped back to $ 46,000.
One big hope is that the bears are now out of breath and that we could see stronger buying interest again at the current low prices. For the retail investor, the current correction is once again an ideal buying opportunity before we possibly become strongly bullish again.
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Merry Christmas! Bitcoin Price Above 50K! What’s next?
- $BTC Price reaches Strong Resistance – Will a Bitcoin 40K Price Happen?
- PEPE Coin Price to Reach $5 in the Next Seven Days?
- Top 3 Reasons why Bitcoin Crashed Again in 2022
- Correction Day! Should you Buy $BTC before Bitcoin Price reaches 50K?
- Crypto Crash! Will 2022 be a Crypto Bear Market? Here’s what we Know
- Will Bitcoin Reach $100,000 in 2022?
- Bitcoin Price Prediction – BTC reaching 50K again! Here’s what to do
- Bitcoin Price Consolidates! Did the Bullrun END for $BTC?
- Top 3 Reasons why it’s currently BETTER to Buy Altcoins
- What is a realistic forecast for Bitcoin at the end of 2022?
- Bitcoin Bull Market: Is $45,000 the Magic Level?
- Bitcoin Price Prediction: BTC is on the brink of $50,000
- Kadena Price Prediction – Will KDA Price Hit $10 Soon?
- Why are Cryptos Stagnating? Here are 3 reasons why Cryptos are Down
- Bitcoin Crash – Here are 3 things that can SAVE Cryptos
- Will Bitcoin reach $50,000 again this year in 2023? Well…
- Bitcoin Price Recovers while Altcoins SHOOT! Is it Time to Swap to Alts?
- Bitcoin Price EXPLODES as US Banks risk liquidity crunch…BTC 30K?
- Crypto Comeback! Bitcoin up by more than 10%, Buy Bitcoin NOW?
You might also like
More from Bitcoin News
Crypto market news: The crypto market, already reeling from a dip, is gearing up for a potentially larger financial event …
The crypto market had its ups and downs. In the midst of OpenSea's pivotal decision, should you sell NFTs today?
Bitcoin price crashed as prices fell below the price of $29,000. Will Bitcoin crash to $20,000? Let's analyze in this …