Forecast for Bitcoin Prices: A Millionaire Trader Thinks It Will Drop to $40,000 from $71,000
At $69,300, bitcoin is currently trading slightly higher by less than 0.10%. The market has been agitated, nevertheless, by a recent tweet from wealthy trader Zoran Kole (@Captain Kole1). Because Kole’s prognosis raises another level of uncertainty around Bitcoin price projection, traders are keeping a close eye on these levels.
A Millionaire Trader Predicts That Bitcoin Will Drop to $40,000
The cryptic tweet from millionaire trader Zoran Kole, also known as @Captain Kole1, mentioned “$44,444,” which is the annual opening price of Bitcoin.
His short apology, “I’m sorry,” conveys a pessimistic view, indicating that Bitcoin may come back to or drop below this level. Investors and traders are concerned about this tweet because it suggests that the price may drop significantly from its present trading levels of approximately $69,300.
$44,444
Yearly open.
I'm sorry. pic../HCSVl7bYcY
— Zoran Kole (@Captain_Kole1) June 6, 2024
Bitcoin Price Prediction
Bitcoin is currently trading at $69,300, showing a modest increase of less than 0.10%. The pivotal support level is at $68,700, where an upward trendline suggests a potential bullish reversal, and it’s keeping Bitcoin price prediction bullish.
📈 #Bitcoin Price Prediction: BTC is trading at $69,300 (+0.10%). Key support at $68,700 with a bullish trendline.
Immediate resistance at $69,600 & $69,750. 50-day EMA at $69,600 is crucial for confirming a bullish trend.
Consider selling below $69,700 & buying above $68,700. 📊 pic../Ig5RDYJQ2d— Arslan Ali (@forex_arslan) June 9, 2024
But there is immediate barrier for Bitcoin around $69,600 and $69,750, and there is more resistance at $70,650. Bitcoin must cross the 50-day Exponential Moving Average (EMA), which is currently around $69,600, in order to validate a bullish trend.
