Bitcoin Price Prediction – BTC Slides with Potential Drop to $19.8K

Bitcoin Price Approaches the Current Support with a Potential Drop to $19.8K – November 3, 2022

On November 2, BTC/USD fell to a low of $20,055, with a possible drop to $19.8K. The $20,400 resistance degree has triggered the upward reversal to stall.

The easy line is that if consumers are unable to get by way of the preliminary resistance at $20,400, the bitcoin value may expertise extra declines.

Bitcoin Price Statistics Data:•Bitcoin value now – $20,107.68•Bitcoin market cap – $20,107.68•Bitcoin circulating provide – 19,197,043.00 BTC•Bitcoin whole provide – $423,262,070,763•Bitcoin Coinmarketcap rating – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Bitcoin’s (BTC) value is at present trades simply above the $20,000 psychological value degree. Its earlier rising motion has met resistance under the $20,400 value degree after the current dip above the $20,055 assist. It follows that the BTC value will fluctuate inside a small vary.

The present assist might be below strain because of this. Bulls shopping for the dips was not sufficient to cease bitcoin falling to a low of $20,055 on November 2. Buy consumers fought again to propel bitcoin  to a excessive of $20,400.

The upward correction is operating into issue as Bitcoin drops from its most up-to-date excessive. The $20,400 resistance degree has led to a fall in Bitcoin, with the value now fluctuating inside a restricted vary between $20,000 and $20,400.

If consumers achieve breaking by way of resistance at $20,400, the BTC value may rise again to the earlier excessive of $21,022.

However, if Bitcoin declines from the present resistance place, the $20,000 assist degree can be damaged. Bitcoin’s rangebound motion will then resume between $18,800 and $19,900 value ranges.

Microstrategy CEO Reiterates His Belief That Bitcoin Price Is a “Long-Term” Play – Potential Drop to $19.8K

Bitcoin bulls have been on the lookout for some shopping for assist coming in from the MicroStrategy outcomes announcement, however have been disillusioned.

Microstrategy is the biggest publicly traded company Bitcoin proprietor on the earth. It declared that as of the top of Q3 2022, it nonetheless possesses 130,000 BTC. It claims that this sum, or virtually $4 billion, or $30,639 per Bitcoin, was paid for the acquisition of 0.62% of each Bitcoin ever owned.

As its CEO declares that it will proceed to purchase and maintain Bitcoin over the long run, the biggest company Bitcoin holder on the earth has diminished its losses compared to prior earnings.

Phong Le, the President, and Chief govt officer of MicroStrategy, reaffirmed the corporate’s lengthy-time period holding plan throughout an earnings name, saying: “We have not sold any Bitcoin to date. To reiterate our strategy, we seek to acquire and hold Bitcoin for the long term. And we do not currently plan to engage in sales of Bitcoin. We have a long-term time horizon and the core business is not impacted by the near-term Bitcoin price fluctuations.”

As a results of the rejection on the $20,400 excessive, Bitcoin is at present sliding with a possible drop to $19.8K. The $20,000 assist will in all probability be examined once more by the cryptocurrency. Bitcoin will revert to its former vary-certain vary between $18,800 and $19,900 value ranges if the present assist degree is damaged.

Dash 2 Trade (D2T) Could be a 100x Coin

If you’re on the hunt for a coin with a greater danger-reward ratio than bitcoin proper now, then Dash 2 Trade could possibly be the candidate.  In its persevering with presale, Dash 2 Trade has thus far raised greater than $4.4 million.

In a vote of confidence within the crypto, which is constructing an analytics and indicators platform for crypto merchants, a few days in the past it disclosed that LBANK will checklist D2T shortly after the presale ends.

You should purchase D2T with ETH of USDT however you will want to transfer quick to beat the following value rise – from $0.050 to $0.0513.

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