Our bitcoin price prediction sees BTC trading at its 20-day moving average, currently priced at $33,400 on Coinbase.
But as solid as the price recovery may have been, not everybody is convinced, particularly the analysts at JP Morgan.
“Despite this week’s correction we are reluctant to abandon our negative outlook for Bitcoin and crypto markets more generally.
He asked them not to report the incident to lawyers and authorities, as it would slow down the recovery process of the missing funds.
But there was bullish news for bitcoin emanating from ElSalvador, where President Nayib Bukele announced on Thursday a distribution of “helicopter money” to the citizenry via an e-wallet holding $30 worth of bitcoin.
The key level for bitcoin to takeout is $35k.
It’s obviously a big if, but if the price does again challenge at $40k and breakthrough, then the bull market is definitely back on.
In that role he provided expert commentary to a diverse number of newspapers, and other media outlets, including the Daily Telegraph, Evening Standard and the Sun.
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