Analyst predicts potential Bitcoin plunge to $37k
According to crypto analyst Ali Charts, the price of Bitcoin (BTC) may drop to $37,000 if it fails to maintain its critical support level of $43,000. Ali Charts suggests that if this support level holds, it could potentially lead to a rise in BTC towards $47,360. Currently, Bitcoin is trading at $43,780, showing a 3.40% increase in value over the past week. The trading volume for Bitcoin has also exceeded $12 billion, indicating significant activity in the market. The approval of spot Bitcoin ETFs in the US is also anticipated, which could potentially trigger a substantial surge in Bitcoin and the wider crypto market. Matrixport, a reliable source for crypto predictions, has successfully predicted two out of six forecasts, with their latest projection indicating Bitcoin reaching $50,000. Their previous accurate calls include Bitcoin surpassing $29,000 on April 11. Additionally, Argentina’s government has recently approved the use of Bitcoin in contractual agreements, following a global trend of governments reevaluating their stance on digital assets. The Central Bank of Nigeria has also lifted its ban on cryptocurrency transactions, signaling a significant shift in the country’s position on the crypto market.
