U.Today Franchise
F2Pool
0
📈 Price Predictions
784 views

Bitcoin (BTC) Price Prediction: Expecting a Decline to $6,500?

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Denys Serhiichuk
    📈 Price Predictions

    Is the current growth a false alarm before an expected decline?

Bitcoin (BTC) Price Prediction: Expecting a Decline to $6,500?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Despite the high volatility on the cryptocurrency market, the top 10 coins are located in the green. The biggest gainer is Cardano (ADA), whose rate has gone up by 4.52% since yesterday. Interestingly, the prices for the altcoins are not trending against Bitcoin (BTC) as in the previous trading days.

Top 10 coins by Coinstats

Below is the relevant information for the leading cryptocurrency at press time:

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $131,122,455,441

  • Price: $7,256.41

  • Volume (24H): $20,196,346,228

  • Change (24H): 1.55%

BTC/USD: Can the Bulls Seize the Initiative on a Short-Term Basis?

The price of BTC has been extremely volatile since yesterday. November 27th started with a sharp drop from $7,000 to below the $6,900 mark. This was mainly caused by a hack of the UpBit exchange.

BTC/USD chart by TradingView

However, BTC was able to recover quickly. Over the course of one hour, the price rocketed back above the $7,300 mark, which is where the coin is currently trading. As with regards to the nearest price scenario, BTC might correct itself between the levels of $7,100 and $7,150. 

👉MUST READ

Bitcoin Price Reaching $250,000 Is No Joke. Tim Draper Might Be Right Again

Bitcoin Price Reaching $250,000 Is No Joke. Tim Draper Might Be Right Again

Furthermore, a long bullish candle wick has formed, suggesting a rollback to the previous positions. 

BTC/USD chart by TradingView

Looking at the bigger time frame, the picture is more positive. The local trend remains bullish as the Moving Average Convergence/Divergence (MACD) indicator is continuing to move upwards. If Bitcoin can fix above $7,300, the next stop will be the $7,400 mark, which served as an earlier resistance point. However, it is a correction from the continuing decline of the past two weeks, and a result, one cannot consider it as the end of the bearish market.

At press time, BTC is trading at $7,277.

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

Recommended articles
CLOUD MININGPromoted
0
📰 News
1427 views

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

👉MUST READ

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted