Top Crypto Experts Debate: Will Bitcoin Price Hit $35k in the Next Four Weeks?
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Two of the most influential personalities in the crypto world, Ben Armstrong, also known as “Bitboy Crypto,” and Crypto Wendy O, recently engaged in a conversation about Bitcoin’s recent rise to $25,000 and their predictions for the short-term future of the leading cryptocurrency.
A Clash Of Opinions
During one of Bitboy’s famous livestreams, Crypto Wendy O boldly predicted that Bitcoin would reach $35,000 by March 17th. However, she also expressed concerns about the ongoing turmoil in the cryptocurrency industry and its impact on Bitcoin’s bullish trend.
Bitboy, on the other hand, argued that the ups and downs of the crypto market are what make it exciting, but Crypto Wendy O insisted that the current level of drama is concerning. She also warned that Bitcoin could be negatively affected if the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking continues.
Despite her pessimism, Crypto Wendy O offered reassurance that the setback would be temporary, and Bitcoin would eventually recover.
Bitcoin Price Analysis: Investor Caution Recommended
As of writing this article, the price of one Bitcoin stands at $24,340, and if bulls continue to push, breaking the psychological threshold of $25,000 could lead to a significant increase in the price of Bitcoin, potentially reaching $30,000.
This could trigger a bull run phase, causing the prices of all cryptocurrencies to rise in tandem with Bitcoin’s price.
However, if the price of Bitcoin is rejected in the supply zone, investors will have to wait for negative confirmation before entering the market. Short-sellers will need to see a daily candlestick close below the 200-day Exponential Moving Average (EMA) before taking action.
In the event of the 200-day EMA flipping, a lower bottom could cause a moderate decline, potentially reaching the 200-day Simple Moving Average (SMA), currently at $19,694. This could increase the likelihood of a further decline, sending Bitcoin down to its November 2022 lows of $15,588.
