Dave - Cryptocurrency Enthusiast
Recently PlanB, a prominent personality, and quantitative crypto market investment analyst invited his 1.8 million followers on Twitter to vote in a poll asking them to forecast the Bitcoin price, the biggest cryptocurrency in the world.
There were four options for the voting. "Less than $10,000" was listed first, followed by "between $10,000 and $20,000," "between $20,000 and $30,000," and then "more than $30,000."
According to the poll's findings, most users anticipate that by the end of this year, the price of bitcoin will be between $10,000 and $20,000. The option "$10k-$20k" received the most votes, receiving 33.4% of the votes from the almost 45,000 participants in the survey.
At the time of the survey, one Bitcoin is worth $19,207. When the Federal Reserve declared that it would increase interest rates by 0.75 percentage points to combat inflation, Bitcoin started to move lower. The goal of this action was to limit inflation.
The price of Bitcoin reacted unfavorably after struggling to surpass the $19,500 threshold. Price fell to the $18,150 level and almost hit the $18,380 level of support. $19,000 is functioning as the first barrier to the corrective rally that has just started. Between $19,500 and the 50-hour simple moving average, which is the next significant hurdle, the price may go to $20,000 or more.
If you think that the Bitcoin price will go even lower and it’s time to sell it, you can check out BCBitcoin – a crypto broker, moreover a platform where you can buy and sell Bitcoin online, as well as many other cryptocurrencies.