Bitcoin Price Prediction as BTC Pumps Past $20,500 – Where is it Going Next?
During the European session, Bitcoin remained bullish, having gained less than 0.5% in the last 24 hours to trade at $20,600. Although October is usually a positive month for Bitcoin, the slow start to the month and continuation into the last week of the month eventually triggered an upward trend.
During the Asian session, the cryptocurrency market took a sharp upward swing, and this negative attitude swiftly evaporated. With Wednesday's trade coming to a conclusion, BTC's price had risen above $20,000 for the first time. However, what does rejection at $21,000 imply?
Messina Group CEO Bets Porsche Bitcoin Will Return to $60K
Jim Messina, CEO of consultancy firm The Messina Group, shared his optimistic outlook on cryptocurrencies and Bitcoin in particular on Wednesday (October 26).
On Fox Business, when Bitcoin was trading at around $20,000, the ex-White House deputy chief of staff discussed cryptocurrencies. Messina made the following comments about distributed ledger technology and virtual currencies:
CNBC reported on 19 September 2022 that Messina "brings some heavy lobbying guidance to a London-based cryptocurrency trading platform as the industry braces for new laws in the US and abroad."
As a result of the optimistic tweet about Bitcoin's forecast reaching $60K, we may see a bullish trend in Bitcoin prices.
Bitcoin Price Prediction as BTC Pumps Past $20,500
Bitcoin is currently trading at $20,583, with a 24-hour trading volume of $54 billion. Bitcoin has risen by more than 7% in the last seven days. CoinMarketCap currently holds the top spot, with a live market cap of $395 billion, up from $398 billion during the Asian session.
Bitcoin Price & Tokenomics - Source: coinmarketcap
Bitcoin rises after breaking out of a symmetrical triangle pattern at $19,250. The BTC/USD pair has traded bullishly, breaking through immediate resistance levels of $19,900 and $20,430, as predicted in the Bitcoin price prediction for October 26.
For the time being, it is encountering immediate resistance at $21,000, a level extended by 61.8% Fibonacci retracement. The RSI and MACD are still in a buying zone, indicating a bullish run; similarly, the 50-day moving average indicates buying above $19,600.
Bitcoin Price Chart - Source: Tradingview
Bitcoin's near-term support is still around $20,400 and $19,900. If the price of Bitcoin breaks through $21,000 today, investors may look to make a purchase.
Top Coin Alternative – Dash 2 Trade
The Dash 2 Trade presale has already raised over $2.8 million in a little over a week, making it one of the largest token sales of the year. The goal of Dash 2 Trade, a platform built on Ethereum, is to give users access to a wide range of real-time analytics and social trading signals.
The amount that has been raised so far is a huge show of support for the system. Whereas, the company plans to list its D2T token on multiple exchanges after its presale ends and before the launch of its platform in the first quarter of 2023.
Find The Best Price to Buy/Sell Cryptocurrency
Cryptocurrency Price Tracker - Source: Cryptonews
