- Bitcoin price prediction to consolidate between 56692-57245$ range
- BTC line of control lies below 56992$ zone, looking bearish for many investors
- The federal government will not ban crypto, but it may impose a tax on it, say sources
In India, the central government may not ban cryptocurrency outright. The government is preparing a bill to regulate cryptocurrency trading during the upcoming winter session of Parliament.
As per the Lok Sabha website, the crypto bill is likely to prohibit all private cryptocurrencies in India, with some exceptions. The inter-ministerial panel has recommended that all private cryptocurrencies, except any virtual currencies, be banned.
Lets dip dive into technical analysis of BTC
Technical Analysis of BTC: Bullish sentiment in 4hour BTC/USDT Binance pair (platform using Tradingview.com)
According to Oscillators
BTC has a neutral sentiment when examined in 4hour chart [Pair BTC/USDT Binance] and moving average gives indicator about strong buy.
Technical Analysis : Bitcoin Price Forecast using 4EMAs (10,20,50,200) and RSI (Relative Strength index)
Resistance and Support Levels for Day Trading BTC USDT [BTC Price Forecast]
Calculation For Trading:
Resistance Level (R3): 56691.6
Resistance Level (R2): 57245.4
Resistance Level (R1): 57635.9
Support Level (S1): 55747.3
Support Level (S2): 55356.8
Support Level (S3): 54803.1
BTC Price Prediction: FAQs
Bitcoin (BTC/USD) Price Prediction : FAQ
|What will be the lowest price of Bitcoin (BTC) in future?||Upto $225,624.08 USD|
|What will be the highest price of Bitcoin (BTC) in future?||Upto $281,101.23 USD|
|Will Bitcoin (BTC) price increase in future?||Yes, Bitcoin (BTC) price will increase according to our predicted data in future.|
|Investment in Bitcoin (BTC) is profitable or loss-making?||Yes, Bitcoin (BTC) is profitable investment based on our forecasting.|
|Whether the price of Bitcoin (BTC) will be downward in future?||No, Bitcoin (BTC) price will not be downward based on our estimated prediction.|
|In 1 year from now what will 1 Bitcoin be worth?||The price of 1 Bitcoin (BTC) can roughly be upto $97,739.08 USD in 1 years time a 2X nearly from the current Bitcoin price.|
|Where do I buy Bitcoin?||There are many places to buy and exchange Bitcoin we list them all here.|
|What will the Bitcoin Price be tomorrow?||Our algorithm predicts that the Bitcoin Price can be upto $57,253.22 USD by tomorrow.|
|What will be the price of Bitcoin (BTC) after 1 year?||Upto $97,739.08 USD|
|What will be the price of Bitcoin (BTC) after 2 years?||Upto $103,375.65 USD|
|What will be the price of Bitcoin (BTC) after 3 years?||Upto $139,935.51 USD|
|What will be the price of Bitcoin (BTC) after 4 years?||Upto $157,768.34 USD|
|What will be the price of Bitcoin (BTC) after 5 years?||Upto $204,569.82 USD|
|What will be the price of Bitcoin (BTC) after 6 years?||Upto $201,981.42 USD|
|What will be the price of Bitcoin (BTC) after 7 years?||Upto $281,101.23 USD|
Bitcoin (BTC) price is digesting the previous week’s sales well for now and is rising further northwards in the final hours of trading. Moreover, Bitcoin dominance can prevent the formation of a new annual low for the time being.
Currently, Bitcoin (BTC) price is $56,339.4 with a market capitalization of $1,184,102,881,615.
History of bitcoin
Satoshi Nakamoto, a pseudonymous person, became known in 2009 as the creator of Bitcoin. As it turned out, his creation of a blockchain-based currency that ensures maximum transparency and security at the same time as simultaneously being scientific was regarded as highly “INCREDIBLE” and caused a great deal of turbulence during ICO pricing!
A Bitcoin transaction is verified and added to the system through the mining process, which releases it into circulation.