Bitcoin New Price Prediction Is Out

Bitcoin’s new price prediciton is out. Check out the latest reports about the price of BTC.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $22,405.

A popular crypto analyst is unveiling his forecast for Bitcoin (BTC) after the king crypto plunged over 6% on March 3rd.

Analyst Justin Bennett says in a recent newsletter that Bitcoin bulls should pay close attention to the $23,130 price for BTC.

According to the trader, BTC could witness another sell-off event. This will reportedly happen if bulls fail to recapture the key price area.

“The key for bulls is a reclaim above the $23,130 monthly open. The longer Bitcoin trades below that area, the stronger it becomes as resistance.

If Bitcoin bulls fail to reclaim $23,130, we could move toward the $20,800 liquidity pool.

If they can reclaim $23,130, then $23,800 is the next hurdle for buyers.

But, for now, Bitcoin is range bound between the January trend line at $21,900 and the monthly open at $23,130.”

It’s hardcoded into Bitcoin that every four years you’re going to cut the block rewards. If you cut the block rewards, in theory, a whole bunch of miners will go out of business unless the price adjusts. And the price adjustment creates movement.”

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $22,346.

A closely followed crypto analyst who nailed the 2022 bottom for Bitcoin (BTC) is predicting when the king crypto could possibly turn a corner and rally.

The analyst, pseudonymously known as DonAlt said recently that the legacy asset markets are having a bearish effect on Bitcoin. Check out the previous article in order to learn more details about this. Stay tuned for more news.