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coinpedia 2024-12-10 06:30:00

Bitcoin Price Prediction Today: BTC Price To Hit $94k?

Bitcoin Price Prediction Today: BTC Price To Hit $94k?

The post Bitcoin Price Prediction Today: BTC Price To Hit $94k? appeared first on Coinpedia Fintech News The crypto market has dropped 5.62% in 24 hours and is currently valued at $3.44 Trillion with a trading volume of $349.745 billion. Following this, the price of Bitcoin has experienced a similar price action by retesting its support level of $94,000. With the current market sentiments, is this a crucial time to hold Bitcoin tokens? In this article, we have covered the possible short-lived price prospects of the Bitcoin (BTC) crypto token. BTC Price Records Increased Selling Pressure! The Bitcoin price continues to lose value by recording a red candle for the second consecutive day. This highlights an increase in the selling pressure for it in the crypto market. This further indicates a switch in investor’s interest in the altcoin market. TradingView: BTC/USDT The Relative Strength Index (RSI) has experienced a strong bearish reversal around its overbought range in the daily time frame. This has resulted in it recording a sharp decline in the BTC price chart with its average trendline displaying a bearish convergence. However, the EMA 50/200-day records a constant uptrend in the price chart. This highlights a mixed price sentiment for the largest cryptocurrency by market cap. What Is Bitcoin Price Prediction Today? Suppose a bullish reversal occurs, in that case, the BTC token will reclaim its $98,000 mark. If the bullish sentiment sustains at that point, this could push the price of Bitcoin toward the $100,000 mark. On the contrary, if the bearish momentum intensifies, this could pull the Bitcoin price toward $95,000. Moreover, if the bears outrun the bulls, it could plunge toward its low of $94,000 today. To determine if the BTC price will achieve a new ATH in this crypto bull run? Read CoinPedia’s Bitcoin Price Prediction . Also, subscribe to stay updated on the latest cryptocurrency news! FAQs Why Bitcoin is going down today? The prime reason for the recent market correction is speculated to be increased profit-booking among the investors. How many people own 1 Bitcoin? As per the data collected in November 2024, more than 1 Million wallets are holding 1 or more Bitcoins. How much Bitcoin will be worth in 2025? With increased adoption, the BTC price could reach a maximum of ~$170,000 in 2025.

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