Bitcoin (BTC) will surpass $30,000 this week

Bitcoin is starting the week on a high note. The currency was disappointing in May, but it appears to be gaining momentum again. But how long can this uptrend continue?

In the sections below, we’ll look at it in more detail, but first, take a look at these factors:

  • After a week of decline, Bitcoin has once again surpassed $30,000.
  • Despite this, the coin has yet to break through a key overhead resistance of $30,750.
  • The coin has a market cap of $521 billion.
  • If the resistance above is broken, bitcoin could surge to almost $32,500.
  • BTC’s trading volume in the last 24 hours was $64 billion.

Data Source: Tradingview

Will Bitcoin rise in value this week?

It’s very unlikely that we’ll see a significant BTC rally this week. Yes, surpassing $30,000 is an excellent sign. But regardless of this, bitcoin remains suppressed below a critical resistance level of approximately $30,750.

Bitcoin will need to rise above this level if it wants to begin a new bullish run. For now, we remain cautiously optimistic about Bitcoin’s short-term prospects.

When Bitcoin attempted to break through this level in the past, it was met with stiff resistance. In the end, it fell sharply and bottomed at approximately $28,500.

However, if bulls can generate enough momentum over the coming days to push the coin past $30,750, Bitcoin could surge and settle at around $32,500. This is a rebound of around 10% from the current value.

We believe that Bitcoin will surpass $30,000 this week as the cryptocurrency continues to gain mainstream adoption.

More and more institutional investors are turning to Bitcoin as a safe haven asset amid global economic uncertainty. With Bitcoin’s recent price surge, we expect even more investors to jump on the bandwagon in the coming days.

What is BTC’s realistic value in 2022?

Much has been written about Bitcoin achieving $100,000 within the year. However, this is considered highly unlikely. Some experts have predicted that BTC could close out the year at around $38,000.

This is a more realistic value for the cryptocurrency, which takes into account the current market conditions.

Bitcoin (BTC) will surpass $30,000 this week and settle at around $32,500. However, for the time being, we do not anticipate any further upside above $32,500.

The market’s mood hasn’t altered much enough to suggest that the week will bring a bitcoin bull run. Instead, the currency will undergo typical price fluctuations before possibly returning to $30,000 by the end of the week.

There’s a chance the coin could even reach $50,000. It all depends on how quickly the market’s risk-off sentiment dissipates. Bitcoin’s current price is being driven by a number of different factors, including:

  • Bitcoin’s supply is limited to 21 million, making it a scarce asset.
  • Bitcoin is gaining mainstream adoption and institutional investment.
  • Bitcoin is seen as a store of value and hedge against inflation.

Investors should therefore be cautious about investing in BTC at its current value. Bitcoin could rise to $32,500 this week but is unlikely to surpass this figure in the near future.

Bitcoin (BTC) will surpass $30,000 this week as demand for the cryptocurrency continues to surge. Bitcoin’s price has been on a tear lately, rising more than 20% in the past week alone.

This surge is being driven by increasing mainstream adoption and institutional investment in Bitcoin. Bitcoin is seen as a store of value and hedge against inflation

While we do not recommend buying bitcoin at its current price, we believe it is still a good long-term investment. If you’re considering investing in bitcoin, make sure to do your research and invest only what you can afford to lose.