Bitcoin analysis header price forecast
The digital currency
Weekends are the time for many people to think about their investments. That is why we bring the price forecast for the coming week. We also consider the course record that has just been set.
Before we start with our price forecast, let’s take a moment to consider the new Bitcoin price record.
Bitcoin sets new price record!
This morning the Bitcoin price shot through the old price record of $ 58,332. At the time of writing, the Bitcoin price is trading at EUR 50,351.50 ($ 60,176.63). That is a gain compared to yesterday of 5.78%. Since the price is still rising, it is not yet possible to say how high the new price record of the Bitcoin will become. We already have a historic moment, because it is the first time that Bitcoin exceeds EUR 50,000 and $ 60,000. Prediction of crypto prices Spain is popular.
Bitcoin’s positivity has a favorable effect on the entire crypto market, which is generally showing green numbers after yesterday’s news. Strongest riser in the top 25 is newcomer Chiliz (CHD), who registered an increase of 47.63% in 24 hours. There are also a few declines. The biggest drop is Solana (SOL), which, with a loss of 6.25%, has lost some of the profit of earlier this week. Of course you can follow all live crypto prices 24 hours a day on the Tradeincrypto.com website.
Was our price forecast of last week correct?
We foresaw a positive crypto market last week. With regard to Bitcoin, our expectations were correct, a price record is very direct proof.
We also provided a positive week for the top 25 crypto coins, with 2 exceptions. Ripple (XRP), which lost 2.34%, and OKB (OKB), which lost 5.61%, were the only top 25 cryptocurrencies in the red in the past week. This prediction was also correct. The Dogecoin (DOGE) and AAVE (AAVE), with which we were a bit more cautious, also performed well with a weekly result of 11.82% and 5.87% respectively. So we were even a bit too careful. Price prognose Crypto is popular.
With this information in mind, we naturally look ahead to the expectations for the coming week (week 11).
The Bitcoin price forecast in week 11
Based on the technical analyzes and the moving averages, all indicators are on bullish for the coming week. With that, Bitcoin has a positive week ahead. Now that the coin broke through the $ 60,000, it could be that there will be a temporary setback. Historically, it appears that the course does not always immediately cross a psychological boundary.
However, with the growing enthusiasm of institutional investors and the FOMO that will undoubtedly trigger the passing of $ 60,000, there seems little reason to expect a price correction later in the week.
In these cases, it is good to keep an eye on the on-chain metrics. This is the fastest way to notice a change in sentiment.
The prospect for the other crypto coins
The big trend right now is decentralized financing, so the DeFi coins will be back in the spotlight next week. In addition, we see that many crypto coins perform in correlation with the Bitcoin, which in short means that they rise when the Bitcoin rises and fall when the Bitcoin falls. This means that the crypto market seems favorable for next week, although it remains to be seen whether the American authorities will take further action in the crypto sector.
Although we saw last week that the top 25 coins with the lowest correlation were also successful, we still share them. Based on Intotheblock’s statistics, that is for the coming week, apart from the stable coins, Cardano (ADA) and Synthetix Network Token (SNX). Nevertheless, the technical analyzes also provide a buy signal for these coins.
So we look forward to a positive crypto week.