{"id":573365,"date":"2024-02-05T21:00:34","date_gmt":"2024-02-05T21:00:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=573365"},"modified":"2024-06-11T08:34:04","modified_gmt":"2024-06-11T08:34:04","slug":"bitcoin-45000-30000-decision","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-45000-30000-decision\/","title":{"rendered":"Bitcoin To $45,000 Or $30,000? Analyst Reveals Key Factor That Will Drive The Decision"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/bitcoin-set-to-lead-a-new-crypto-surge-coinbase\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">The flagship cryptocurrency, Bitcoin<\/span><\/a><span style=\"font-weight: 400\">, looks to be at a crossroads as it continues to trade flat, indecisive about whether to move <\/span><a href=\"https:\/\/bitcoinist.com\/3-year-high-bitcoin-investor-sentiment-surges\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">downward or upward<\/span><\/a><span style=\"font-weight: 400\">. Commenting on this current price action, crypto analyst Eric Krown Crypto reveals key factors that will decide Bitcoin\u2019s next move.\u00a0<\/span><\/p>\n<h2>Bitcoin In \u201cOutlier Land\u201d<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=VQSa6WOP4yA&amp;t=2s\" rel=\"nofollow\"><span style=\"font-weight: 400\">video<\/span><\/a><span style=\"font-weight: 400\"> posted on his YouTube channel, Eric Krown used the <\/span><a href=\"https:\/\/bitcoinist.com\/btc-price-predictions-35k-for-bitcoin-likely-according-to-a-specific-metric\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Stochastic indicator<\/span><\/a><span style=\"font-weight: 400\"> to analyze Bitcoin\u2019s current price and predict what direction the crypto token was likely headed. Based on his analysis, Krown noted that the current Stochastic level was pointing to a potential correction that was <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-crash-not-bad\/#:~:text=By%20US%20Government-,Crypto%20Expert%20Explains%20Why%20The%20Bitcoin%20Price%20Crash,Is%20Not%20A%20Bad%20Thing&amp;text=A%20crypto%20expert%20has%20explained,has%20achieved%20in%20recent%20times.\"><span style=\"font-weight: 400\">well overdue for Bitcoin<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/why-this-crypto-report-suggests-solana-as-a-main-focus-for-the-next-bull-market\/\">Why This Crypto Report Suggests Solana As A Main Focus For The Next Bull Market<\/a><\/div>\n<p><span style=\"font-weight: 400\">The analyst claimed that a correction would likely see Bitcoin <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-2023-bull-run-new-target\/\"><span style=\"font-weight: 400\">drop to the $30,000 range<\/span><\/a><span style=\"font-weight: 400\">, with him marking the $28,000 price level as the \u201cworst-case scenario.\u201d Meanwhile, he noted that the 5-day HPDR bands were still showing that the median was around $44,500. As such, he expects that BTC could still see a move to that price level or $45,000 in the short term.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Krown believes that Bitcoin <\/span><a href=\"https:\/\/bitcoinist.com\/why-the-bitcoin-price-recently-found-support-at-46k\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">staying below $46,000<\/span><\/a><span style=\"font-weight: 400\"> means that the correction is likely to come at some point, hinting that Bitcoin could end up closing February in the red. However, a move above $46,000 will validate a move to the upside, with the crypto token likely to rise above $50,000 and climb to as high as $53,000, the analyst claimed.\u00a0<\/span><\/p>\n<h2>BTC To Follow History Or Defy Expectations?<span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Krown also alluded to <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/history-next-for-bitcoin\/\"><span style=\"font-weight: 400\">historical data<\/span><\/a><span style=\"font-weight: 400\"> to prove that Bitcoin&#8217;s monthly close in the red was imminent. He stated that Bitcoin usually averaged about three consecutive three months in the green before having a red month. The longest number of months in which Bitcoin has gone in the green is said to be seven.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-holders-moving-big-number-of-whale-wallets-reaches-highest-count-in-15-months\/\">Bitcoin Holders Moving Big: Number Of Whale Wallets Reaches Highest Count In 15 Months<\/a><\/div>\n<p><span style=\"font-weight: 400\">Therefore, he was suggesting that it wasn\u2019t out of place for February to be a red month for the flagship crypto token, considering that it has ended every month in the green <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-crosses-35000\/\"><span style=\"font-weight: 400\">since September<\/span><\/a><span style=\"font-weight: 400\">. Those gains came largely due to the excitement over the potential approval of the <\/span><a href=\"https:\/\/uniquehot.com\/breaking-news-ticker\/breaking-sec-approves-all-11-spot-bitcoin-etfs-btc-price-holds-steady-at-46000\/\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin has recently continued to <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/february-bullish-month-for-bitcoin\/\"><span style=\"font-weight: 400\">defy expectations<\/span><\/a><span style=\"font-weight: 400\">, and there is the possibility that February could still end up being a bullish month for BTC. Interestingly, <\/span><a href=\"https:\/\/www.coinglass.com\/today\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from Coinglass shows that February (alongside October) is the most bullish month for the flagship crypto token, with Bitcoin closing February in the red on just two occasions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin is back above $43,000, up in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/KlsYWbOG\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price trending at $43,100 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Milk Road, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The flagship cryptocurrency, Bitcoin, looks to be at a crossroads as it continues to trade flat, indecisive about whether to move downward or upward. Commenting on this current price action, crypto analyst Eric Krown Crypto reveals key factors that will decide Bitcoin\u2019s next move.\u00a0 Bitcoin In \u201cOutlier Land\u201d In a video posted on his YouTube channel, Eric Krown used the Stochastic indicator to analyze Bitcoin\u2019s current price and predict what direction the crypto token was likely headed. Based on his analysis, Krown noted that the current Stochastic level was pointing to a potential correction that was well overdue for Bitcoin.\u00a0 Related Reading: Why This Crypto Report Suggests Solana As A Main Focus For The Next Bull Market The analyst claimed that a correction would likely see Bitcoin drop to the $30,000 range, with him marking the $28,000 price level as the \u201cworst-case scenario.\u201d Meanwhile, he noted that the 5-day HPDR bands were still showing that the median was around $44,500. As such, he expects that BTC could still see a move to that price level or $45,000 in the short term.\u00a0 Krown believes that Bitcoin staying below $46,000 means that the correction is likely to come at some point, hinting that Bitcoin could end up closing February in the red. However, a move above $46,000 will validate a move to the upside, with the crypto token likely to rise above $50,000 and climb to as high as $53,000, the analyst claimed.\u00a0 BTC To Follow History Or Defy Expectations?\u00a0 Krown also alluded to historical data to prove that Bitcoin&#8217;s monthly close in the red was imminent. He stated that Bitcoin usually averaged about three consecutive three months in the green before having a red month. The longest number of months in which Bitcoin has gone in the green is said to be seven.\u00a0 Related Reading: Bitcoin Holders Moving Big: Number Of Whale Wallets Reaches Highest Count In 15 Months Therefore, he was suggesting that it wasn\u2019t out of place for February to be a red month for the flagship crypto token, considering that it has ended every month in the green since September. Those gains came largely due to the excitement over the potential approval of the Spot Bitcoin ETFs.\u00a0 Bitcoin has recently continued to defy expectations, and there is the possibility that February could still end up being a bullish month for BTC. Interestingly, data from Coinglass shows that February (alongside October) is the most bullish month for the flagship crypto token, with Bitcoin closing February in the red on just two occasions.\u00a0 At the time of writing, Bitcoin is back above $43,000, up in the last 24 hours, according to data from CoinMarketCap.\u00a0 BTC price trending at $43,100 | Source: BTCUSD on Tradingview.com Featured image from Milk Road, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":573383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-573365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Bitcoin To $45,000 Or $30,000? 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