Bitcoin has reclaimed its $ 42,000 price range yesterday. This price spike has re -raised the expectations of market players and at the same time raises the question of whether the price level reached is only temporary?
This series of some analysts have come forward to give their views. Justin Bennett who is a crypto analyst noted that ‘this week could be a fun week’ after a strong close on Friday. He believes that closing the Bitcoin price above the $ 42,000 range could push the bitcoin price soaring to the $ 45,000 to $ 46,000 range and further to $ 50,000.
Cryptocurrency analyst Benjamin Cowen said based on the weekly Heikin-Ash candle it gave a positive sign and predicted prices could strengthen for the week.
Yet it should be noted that in the crypto market anything can happen.There is a possibility that the price of Bitcoin could fall to the range of $ 33,000 to $ 34,000. Analysts are now focusing on the $ 40,000 and $ 42,000 price levels as indications.
At the time of writing the Bitcoin price is trading at $ 42,818.15 with an increase of 2.77%. In addition to Bitcoin, other cryptocurrencies also recorded a high surge. Shiba Inu is among the meme coins that recorded a jump of more than 20% in 24 hours.
XRP, on the other hand, increased by about 13%. As a result, XRP managed to hit a three -week high at a price level of over $ 0.75. More profits came from Quant (17%), BitTorrent (16%), LEO (14%), Kadena (13%), Loopring (12%), Gala (10%) and Phantom (10%).
The cryptocurrency market limit has increased by about $ 60 billion since yesterday and totaled $ 1.950 trillion.
