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The post Here’s What Next For Bitcoin (BTC) and Ethereum (ETH ) Price! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The cryptocurrency market is closing the first day of April on a bearish note as most of the cryptocurrencies are expressing downfall. The crypto space was in a mood to rejoice as over the last few weeks these currencies were on green candles.

Bitcoin, the world’s largest cryptocurrency by market capitalization, is facing a rejection as the bulls failed to test $45,500 level as the currency saw rejection at the 200-day Simple Moving Average (SMA) twice at $48,413.

At the press time Bitcoin is trading at $45,361 with a plunge of 4.50% in the last 24hrs.

On the other hand, the second largest cryptocurrency by market cap, Ethereum, had broken $3,400 resistance on March 29th. However, today 1st April, Ethereum dropped to $3,214.

At the time of writing, Ethereum is changing hands at $3,316 with a decrease of 2.9% in the last 24hrs. The immediate support lies at $3,200 level.

Analysts Take on BTC & ETH !

A popular and pseudonymous crypto analyst, Pentoshi through his tweet, informs his 532,200 followers that as per his predictions Bitcoin’s support level lies at $44,000. As the flagship currency is currently trading above $45,000, it looks like BTC has managed to stay above the predicted support level.

Ethereum To Surpass $3,600 !

The analyst throws light on Ethereum saying the recent $600 million hack into Ethereum’s side-chain Ronin Network, might push Ethereum past $3,600 in the coming days.

The analyst, Pentoshi, concludes his analysis by encouraging investors not to always fight the momentum which is created by Bitcoin whales after making some big moves.

Pentoshi further explains giving an example of the $1.2 billion Bitcoin purchase by the Terra Foundation in mid-March which led to BTC’s recent surge. The second example he said was MicroStrategy CEO Michael Saylor’s tweet announcing a $205 million Bitcoin-collateralized loan with Silvergate Bank.

One thought on “Here’s What Next For Bitcoin (BTC) and Ethereum (ETH ) Price!

  1. I dabbled into crypto in 2017 but fell off the map when the bull cycle ended. I came back into the space in spring 2020 and have been deep into it ever since. I remember seeing ETH reach 2K, 3K, then 4K and was of course FOMOing in. I dreamed of prices below 2K, and BTC prices below 50K. I thought I had missed my opportunity of a lifetime.

    Fast forward to today – BTC is sub 20K and ETH is sub 2K, below 1.5K at times and even hitting triple digits. The crypto fear & greed index is at 20 again – extreme fear. These are prices I thought I would never see again. The opportunity of a lifetime is back.

    All of us here are holding in the likely bear market and weathering the storm. And it couldn't be a better time. Societal wide adoption is still extremely low. With 21 mil BTC that could ever exist, mass adoption over the next few years would create a demand could be unfathomable. Ethereum is about to merge from PoW to PoS, and will do wonders for further adoption and development for crypto as a whole. The future demand could be outrageous compared to today.

    Yet as the prices today remain well below ATH, there is so much promise for growth and adoption, and so much to be bullish for. This presents another “opportunity of a lifetime”. Sure this is not like the opportunities before, but it's gonna be one hell of a ride. And I'm glad all of us who have remained in this space with that deep-seeded optimism get to be here for it this time around.

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