{"id":29224,"date":"2023-06-29T13:51:35","date_gmt":"2023-06-29T17:51:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bitcoin-price-prediction-as-btc-bounces-back-above-30000-resistance-time-to-buy\/"},"modified":"2023-06-29T13:51:36","modified_gmt":"2023-06-29T17:51:36","slug":"bitcoin-price-prediction-as-btc-bounces-back-above-30000-resistance-time-to-buy","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=29224","title":{"rendered":"Bitcoin Price Prediction as BTC Bounces Back Above $30,000 Resistance \u2013 Time to Buy?"},"content":{"rendered":"
\n

Bitcoin (BTC) saw a second strong bounce from support in the $30,000 area late on Wednesday, with the bulls remaining in control for now.<\/p>\n

The world\u2019s largest cryptocurrency by market capitalization was last trading around $30,500, within this week\u2019s ranges as support in the form of the late-April\/early May highs in the $30,000 continues to hold firm.<\/p>\n

Bitcoin is on the cusp of closing out a strong month, with June\u2019s gains currently standing around 12%.<\/p>\n

That\u2019s an impressive recovery given just two weeks ago BTC was trading below $25,000 amid concerns about the US Securities and Exchange Commission (SEC)\u2019s increasingly aggressive stance against the US crypto industry.<\/p>\n

The agency announced new lawsuits against Coinbase and Binance earlier this month, the latest major moves in its quest to bring the crypto industry into \u201ccompliance\u201d via regulation by enforcement.<\/p>\n

Spurring the strong recovery from earlier monthly lows was the news that BlackRock, the world\u2019s largest asset manager, had filed for a spot bitcoin ETF that experts think has a strong chance of being approved.<\/p>\n

A series of other major financial institutions have followed BlackRock\u2019s move, with big names like Fidelity also filing for a spot ETF.<\/p>\n

If spot bitcoin ETFs are approved, this should bring a lot of institutional capital that has been waiting on the sidelines into the bitcoin market, substantially bolstering demand.<\/p>\n

Bitcoin (BTC) Price Prediction – Time to Buy?<\/strong><\/h2>\n

Bitcoin price predictions remain upbeat for a number of reasons.<\/p>\n

Firstly, the tailwind of optimism surrounding spot bitcoin ETFs and \u201cinstitutional adoption\u201d is unlikely to fade anytime soon.<\/p>\n

Moreover, bitcoin remains resilient to macro headwinds such as rising US bond yields as a result of increasing bets for Fed tightening as US economic data points to stronger than expected growth.<\/p>\n

Bitcoin also tends to perform well in July, having rallied a double-digit percentage figure three years in a row now for the month.<\/p>\n

Technicals are also supportive of continued upside.<\/p>\n

Bitcoin\u2019s strong bounce from its earlier monthly lows confirmed the 2023 uptrend, and that the 200DMA remains intact as strong support.<\/p>\n

Bulls are hoping that BTC will soon pop to the north of recent highs in the $31,000s and push on towards major resistance levels in the $32,500, $33,000 and $34,000 areas.<\/p>\n

For those looking for assets that can deliver decent near-term gains, bitcoin could be a good option.<\/p>\n

But with the cryptocurrency still down 55% from its 2021 record highs in the $69,000 area, bitcoin is probably better viewed as a long-term asset to buy and hold.<\/p>\n

If the asset is in the early stages of a new bull market, and if the new bull market does take bitcoin 3-4x above its prior all-time high in the coming years (as happened in 2021), then bitcoin could eventually reach into the upper $100,000s.<\/p>\n

That could mean 5-6x gains for investors who buy now.<\/p>\n

Bitcoin (BTC) Alternatives to Consider<\/strong><\/h2>\n

While the bitcoin outlook is strong, investors should always be on the lookout to diversify their crypto holdings.<\/p>\n

One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales.<\/p>\n

This is where investors buy the tokens of up-start crypto projects to help fund their development.<\/p>\n

These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.<\/p>\n

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application\/platform.<\/p>\n

If an investor can identify such projects, the risk\/reward of their presale investment is very good.<\/p>\n

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.<\/p>\n

Here is a list of 15 of what the project deems as the best crypto presales of 2023.<\/p>\n

See the 15 Cryptocurrencies<\/strong><\/p>\n

Disclaimer: This section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) saw a second strong bounce from support in the $30,000 area late on Wednesday, with the bulls remaining in control for now. The world\u2019s largest cryptocurrency by market capitalization was last trading around $30,500, within this week\u2019s ranges as support in the form of the late-April\/early May highs in the $30,000 continues to […]<\/p>\n","protected":false},"author":1,"featured_media":16921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-29224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBitcoin Price Prediction as BTC Bounces Back Above $30,000 Resistance \u2013 Time to Buy? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) saw a second strong bounce from support in the $30,000 area late on Wednesday, with the bulls remaining in control for now.The world\u2019s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=29224\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction as BTC Bounces Back Above $30,000 Resistance \u2013 Time to Buy? 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