Can Bitcoin drop below $60K?
Seeing Bitcoin's recent growth is enough to make many investors debate. After going through a journey to reach a new all-time high in mid-March. Bitcoin price seems to be stuck in the $70k range. Even prices are now back to low at roughly $66k.
Some analysts predict Bitcoin's decline could reach $60k. And Bitcoin's post-ATH low level was $60806 on March 20. From the history of Bitcoin's price journey, it is clear that the $71k level has remained solid resistance for several weeks.
Today the average cryptos are moving flat, Bitcoin is up 0.55% still at the $66k price level, Ethereum is up 1.02% at $3314, and Solana is up 0.88% at $185.
Fear and Greed Index is still at 71. The market is greedy.
Elsewhere, the gold price back recorded a new all-time high of $2302, it seems gold is taking over Bitcoin
$60k could be the next support based on price history.
Bitcoin's price journey has indeed faced challenges in recent weeks. Some investors who believe Bitcoin can reach $100k may still refrain from selling Bitcoin. However, looking at the Fear and Greed Index value which has decreased from 81 to 71, it indicates that some investors may have released their Bitcoin.
Today Bitcoin is trading between the middle band and lower band on Ticktrader FXOpen. Based on the lower band the $60k price level may be a support area that allows price consolidation when it reaches this point because based on price history, at this point the price has fallen twice to approach the $60k level in March 5 and before the ATH and March 20 after the ATH.
Meanwhile, investors' views on Bitcoin certainly vary. Not everyone agrees with Bitcoin such as Warren Buffet and Goldman Sach, while other investors such as Robert Kiyosaki believe Bitcoin is the best asset. Of course, they have their own reasons for their views on Bitcoin.
Despite the differences in investor views that have sparked debate, making a profit from Bitcoin price fluctuations is still possible. Trading in the CFD market has two opportunities for profit even if the price goes down or up because both Buy and Sell on a pair like BTCUSD make it possible to make a profit even though there are also risks. There are many CFD brokers offering crypto trading on their platforms such as FXOpen.