The Tom Lee Bitcoin price prediction and Tim Draper Bitcoin price prediction are both positive. These two financial industry leaders are among the best in the investment world. So, when they make Bitcoin price predictions, people listen. Many in the cryptocurrency space have been looking out for such predictions to answer questions about Bitcoin like; is Bitcoin dead? Will Bitcoin recover? Will the Bitcoin halving lead to a surge in the price of Bitcoin?
Bitcoin Bull Run: Will Bitcoin Recover Or Is Bitcoin Dead?
Yesterday, our analysis was that the price of Bitcoin fell below the $4,000 to gather momentum to surge higher against the USD. We said that if Bitcoin doesn’t cross this level again soon, it would fall lower and risk reaching the $3200 level again. However, if it recovered above the $4000 level, and crosses the $4100 range, it would ignite the long-awaited Bitcoin bull run.
Bitcoin (BTC) Price Today – BTC / USD
The crypto news on Twitter yesterday was all about the fall below $4000 and what it means for the price of Bitcoin. Many industry leaders talked about what breaking this support means for the price of Bitcoin. Some suggested the Bitcoin will recover after it falls even lower against the USD.
“Bitcoin cannot escape $4k resistance even after poking its head above it the last week. If dip buyers have not come to the rescue yet, it means they are not coming. An investment that refuses to go up will eventually go down. Bitcoin owners need to be prepared for more near-term weakness.”
This isn’t really in line with the Tom Lee Bitcoin price prediction and the Tim Draper Bitcoin price prediction. However, it should not be ignored and it was supported by another well-known cryptocurrency trader, Ledger Status. This trader said that even if the crypto news is focused on the Bitcoin bull run, there are many strong resistance levels that may persist short-term. Answering the question; will Bitcoin recover, he said;
“Tricky spot for $BTC. Under the bband midline again but above a congestion area. Several support areas below, heavy resistance above. Seems a good way to lose money over if leveraged.”
Bitcoin Bull Run Or Bear Market: What Is The Price Of Bitcoin Today? Will Bitcoin Recover?
This morning, Bitcoin started recovering against the USD. It surged above the $4000 level. The $3900 which acted as a strong support yesterday helped hold the price. It prevented the price of Bitcoin from falling as low as $3700. At the time of writing, BTC was trading at $4,031.47. This means that it is up by 1.69% against the USD. The trading volume is $11,385,572,532 and the market capitalization is $71,001,707,761 per CoinMarketcap.com.
While the recovery above $4000 isn’t concrete yet, it is a good sign and it gives those who have been asking if Bitcoin will recover hope again. If the price of Bitcoin keeps moving higher, it will cross the $4100 level and the next target will be $4200 and eventually $5500 mid-term.
Will Bitcoin recover now that a minor Bitcoin bull run has resumed and the price of Bitcoin is above $4000 once again? Share your thoughts in the comment section.