BusinessPostCorner.com
No Result
View All Result
Saturday, July 5, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Bitcoin Price Prediction as Market Volatility Sends BTC toward $28,000 Support – When is the Next Leg Up?

May 7, 2023
in Crypto News
Reading Time: 3 mins read
A A
0
Bitcoin Price Prediction as Market Volatility Sends BTC toward ,000 Support – When is the Next Leg Up?
ShareShareShareShareShare

As market volatility shakes the crypto world, Bitcoin’s price appears to be heading toward the $28,000 support level, leaving investors and traders wondering when the next leg up will materialize. 

In this Bitcoin price prediction, we will explore the factors contributing to the current market fluctuations and analyze the potential scenarios that may unfold in the coming days. 

Stay tuned as we delve into the rollercoaster ride that is the cryptocurrency market.

US Banking Turmoil Accelerates Bitcoin’s Climb Towards the Coveted $30K Mark

The recent Bitcoin uptick commenced after the second major bank failure in the United States, causing unease within the entire banking sector.

In addition, following the default of First Republic Bank, PacWest Bancorp stocks saw a substantial drop due to a disappointing Q1 earnings report.

As per CNBC, a Gallup Survey disclosed that nearly 50% of Americans are concerned about the security of their funds in banks.

The US banking crisis is starting to affect various regional banks, prompting a shift in market sentiment towards alternative safe-havens like gold and bitcoin.

As a result, BTC/USD is gaining momentum, with prices approaching the crucial $30K mark.

Additionally, the turbulence in the US banking sector that started two months ago has been quite advantageous for Bitcoin, as the cryptocurrency’s market share has experienced a significant surge during this time.

As per TradingView, Bitcoin’s dominance rate has risen from 42% to 49% since March, attaining its highest level in 22 months.

Bitcoin Price

Bitcoin is currently displaying a slightly bearish trend, trading at $28,978, mostly unchanged, bouncing off 0.10%. The BTC/USD pair is capitalizing on its earlier daily gains, moving towards the $30K mark.

Bitcoin’s technical aspects remain stable, with BTC’s trading largely consistent with our price prediction.

On the four-hour chart, Bitcoin stays above the 50-day exponential moving average, providing crucial support of around $28,700.

This level has been a significant resistance for BTC throughout the week. Nonetheless, closing candles above $28,700 increases the chances of a bullish turnaround for BTC.

Bitcoin Price Chart – Source: Tradingview

Bitcoin might find immediate support close to the 27,600 level, indicated by a trendline on the 4-hour chart.

If the price breaches this critical 27,600 level, BTC could be on its way to the next support level at 27,200.

Conversely, if BTC manages to break above the $29,600 mark, we may see its price heading north toward $30,400.

Buy BTC Now

Top 15 Cryptocurrencies to Watch in 2023

The Cryptonews Industry Talk team has put together a list of the top 15 cryptocurrencies for 2023, each showcasing considerable growth potential in both the short and long term.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews

 


Credit: Source link

ShareTweetSendPinShare
Previous Post

Western companies warn of hit from China’s slow recovery

Next Post

Why Hasn’t My Social Security Retirement Benefit Rate Increased Yet?

Next Post
Why Hasn’t My Social Security Retirement Benefit Rate Increased Yet?

Why Hasn't My Social Security Retirement Benefit Rate Increased Yet?

Armanino planning data warehouse service, used AI for development

Armanino planning data warehouse service, used AI for development

July 2, 2025
Microsoft to cut up to 9,000 jobs as it invests in AI

Microsoft to cut up to 9,000 jobs as it invests in AI

July 2, 2025
FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users

FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users

July 4, 2025
German business warns army draft would deepen worker shortage

German business warns army draft would deepen worker shortage

July 4, 2025
Arbitrum Explodes 20% as Yapyo SocialFi Mania Triggers Flywheel Effect — alt=

Arbitrum Explodes 20% as Yapyo SocialFi Mania Triggers Flywheel Effect — $0.5 Next?

June 30, 2025
Trump’s ‘Big Beautiful Bill’ is threatening to upend multi-billion dollar investments promising thousands of new jobs for a Georgia town

Trump’s ‘Big Beautiful Bill’ is threatening to upend multi-billion dollar investments promising thousands of new jobs for a Georgia town

June 30, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Hamas gives ‘positive’ response to Trump proposal for Gaza ceasefire

Hamas gives ‘positive’ response to Trump proposal for Gaza ceasefire

July 4, 2025
Crying at work – career damaging or just human?

Crying at work – career damaging or just human?

July 4, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!