Bitcoin bulls continued to battle bears near the $43,000 support level on September 27, when China’s crackdown on all cryptocurrencies halted last week’s positive price action and pared gains throughout the day.
According to Eric Crown, cryptocurrency trader and owner of Crypto Cave Crown, what happens next with Bitcoin (BTC) really comes “depending on what timeframe you are talking about”, but he is currently focused on the medium to long term. … …
In the latest issue of Cointelegraph Market Report, a cryptocurrency trader noted that “we are probably hovering around $40,000 right now” and noted that he would “look at this potential pivot correctly.” Here’s if BTC could hold $42,000.
If BTC does not maintain this level of support, Crown noted that the price could continue lower for a while and drop “all the way to $32,000-$33,000, [plugging] the CME gap that has been there for several months.”
Although this is one of the possible scenarios, Crown suggested that he sees a more positive future for the price of Bitcoin as we enter the last quarter of 2021.
“Actually, I’m more bullish here. I really think that whether Bitcoin bottoms out here and floats here for a while, or goes down to $32,000-$33,000, I really think the end of the year is probably going to look good.”
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