- 41% of followers say BTC’s lowest price could be $25K on CoinEdition’s poll.
- Michael Saylor’s plan to raise $750M could have potentially created a spike in BTC.
- BTC searches for support near $28K as it forms an inverted hammer. It may not even need support.
Coin Edition initiated a poll on July 31 requesting its followers to predict the lowest price that BTC could reach. 1,411 voters participated in the poll with 41.1% saying that BTC would reach $25,000. 21.9% of the voters selected $12,000 and $20,000 as the lowest price while 15.1% stated that BTC would reach $15,000.
When considering the latest status for BTC, it could be noted that the leading cryptocurrency has gained some value. The chart below shows that BTC was priced at $29.25K when the markets opened for trading for the week. On July 27, BTC reached $29.67K but later on, it crashed below $29K and reached its weekly lowest price of $28.75K. Thereafter it traded between $29.1K and $29.5K until early August 1.
Nonetheless, the dawn of August 2 brought new hopes to BTC as it spiked to $29.99K. The above spike is believed to be caused by Michael Saylor who planned to buy more BTC by raising $750 Million.
The Multi-time period charts indicator shows a similarity. In particular when considering the last higher lower it could be seen that BTC formed a green- two red-green candlestick combination before it spiked. The same green- two red-green candlestick pattern could be spotted at present, this could be an indication that BTC could have a spike in the near future. Moreover, the inverted bullish hammer at the end of the chart could be treated as another indication of a bullish overlook.
Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
