COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Analyst Predicts Bitcoin’s Potential Recovery After Recent Decline
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Bitcoin (BTC) > Analyst Predicts Bitcoin’s Potential Recovery After Recent Decline
Bitcoin (BTC)

Analyst Predicts Bitcoin’s Potential Recovery After Recent Decline

In Brief

  • Bitcoin dropped to $58,090, raising concerns among investors.

  • Analyst Moustache suggests a potential recovery to new highs.

  • Breaking $60,000 resistance could push Bitcoin to $69,000.

COINTURK NEWS
COINTURK NEWS 9 months ago
Share
SHARE

Bitcoin, the undisputed leader of the cryptocurrency market, has always been a major focus of attention. Recently, Bitcoin has drawn attention with its decline, raising the question of whether it is signaling a recovery. This is likely the most curious question among those in the market. Analyst Moustache provides the answer. Let’s look at his evaluations.

Contents
Bitcoin’s Current Status: What to Expect After the Decline?Will History Repeat Itself? The $69,000 ScenarioCritical Levels for Bitcoin

Bitcoin’s Current Status: What to Expect After the Decline?

The world’s largest cryptocurrency, Bitcoin, has dropped to levels as low as $58,090. This sudden drop has caused significant concern among investors and led to speculation about a possible rebound.

Cryptocurrency analyst Moustache suggests that a similar recovery could occur by looking at Bitcoin’s past recovery examples. If this prediction proves accurate, Bitcoin’s price could reach new highs in a short period.

Will History Repeat Itself? The $69,000 Scenario

According to Moustache’s analysis, if Bitcoin can break the resistance at $60,000, the price could rise to $69,000. This prediction is supported by Bitcoin’s strong recoveries following major market corrections. For example, during the COVID-19 pandemic in 2020, Bitcoin dropped from around $7,000 to below $5,000 but quickly recovered from these levels, doubling its price.

The current situation is thought to resemble this past example. Following the recent Japan exchange crash, Bitcoin fell below the $49,000 level. This 20% drop paints a similar picture to past corrections, and if history repeats itself, a strong recovery for Bitcoin is expected.

Critical Levels for Bitcoin

Bitcoin is currently trading at $58,094 and has experienced a 3.5% drop in the last 24 hours. However, despite this drop, a 34% increase in trading volume has been observed, reaching $20.9 billion. Bitcoin’s market value stands at $1.16 trillion.

Technical indicators suggest that if Bitcoin breaks above the Simple Moving Average (SMA) at $59,451, it could trigger a rally towards the $62,000-$65,000 resistance zone. The RSI Indicator is at 44.56, indicating a slight bearish momentum. However, since the RSI has not yet entered the oversold territory, an upward movement is still considered possible.

Bitcoin, despite experiencing a significant decline recently, still shows strong recovery potential based on historical data. If the resistance at $60,000 is broken, Bitcoin could rise to $69,000 as per the analyst’s expectations.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Bitcoin Surges as Institutional Giant Acquisitions Fuel New Highs

Bitcoin Surges Toward Unprecedented Highs

Bitcoin Skyrockets as ETF Inflows Hit Record Levels

DigiAsia Ventures into Enormous Bitcoin Reserves

Bitcoin Smashes Records with Unprecedented Weekly Close

COINTURK NEWS 19 August, 2024 - 4:25 pm 19 August, 2024 - 4:25 pm
Share This Article
Facebook Twitter
Share
Previous Article Investors Drive SUI Price Movements
Next Article Ethereum Price Faces Significant Decline Despite ETF Launch
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Technology Clash: Bancor and Uniswap Engage in Legal Battle
Uniswap (UNI)
Societe Generale Boosts Crypto Ambitions with Innovative Stablecoin Initiative
Cryptocurrency News
Robinhood Proposes Bold Plan to Digitize Real-World Assets
Cryptocurrency News
Bitcoin Hits the Remarkable $107k, Predicts Massive Altcoin Surge
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?