Bitcoin (BTC) Price Prediction 2025-2030: $23k support haunts BTC

ambcrypto.com:

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

In recent weeks, the price of Bitcoin (BTC) was holding below a key resistance level after repeatedly failing to breach it to the upside. Although there was still a strong chance that the price will rise over this key level, there are still several support levels available in case of a pullback.

Read Price Prediction for Bitcoin [BTC] 2023-24

The price has recently repeatedly rejected the important $25k resistance level on the daily chart. The 50-day moving average, which is now providing support and is situated around $23k, might propel the price upward to test the $25k level once more, with a bullish breakout being more likely in this scenario.

4 February 2023 was a significant day for Bitcoin as the US Nonfarm Payrolls report for January was due. This study offers information about the state of the US economy and might affect the price of Bitcoin. It is anticipated that the data will reveal that the US economy created fewer jobs in January, which would encourage Bitcoin investors.

Moreover, Cathie Wood, CEO of ARK Invest, believes that Bitcoin is a fantastic asset for safeguarding money and offering protection for people who are financially disadvantaged all around the world. Its price has probably increased because of this viewpoint.

Additionally, the Basel Committee of the BIS estimates that the global banks currently own over $9 billion in cryptocurrency, with Bitcoin and derivatives based on it accounting for 56% of this total. 

The fact that institutional investors are placing substantial bets on Bitcoin must be noted. Michael Saylor, a co-founder