News
Major U.S. investment bank JPMorgan Chase will eventually have to get involved in Bitcoin (BTC), co-president Daniel Pinto believes.
The executive told CNBC Friday that JPMorganâs decision to introduce Bitcoin services would depend on the client demand to trade Bitcoin. Although the current demand is not strong enough, Pinto is confident that it could grow further:
âIf over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved [.] The demand isnât there yet, but Iâm sure it will be at some point.â
Bitcoin (BTC) Price Prediction: BTC/USD Slumps Again Above $30k, Can Bulls Hold the Current Support?
Bitcoin (BTC) Price Prediction – January 22, 2021
BTC/USD has slumped to the previous low after one week of consolidation between $34,500 and $38,000. On January 21, the bears broke the lower price range as BTC dropped to $30,196. In previous price action on January 4 and 11, the market resumed an upward move as soon as the crypto fell to $30,000 low. It is assumed that BTC will resume upward revisiting the previous highs.
Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000
BTC/USD – Daily Chart
Today, Bitcoin fell to $29,317 low as price corrected upward. The crypto has continued to fall because the price is making a series of lower highs and lower lows. If the downtrend makes a lower high, there is a certainty that price must fall. Today, BTC price is making a lower high as the coin faces rejection at the $32,000 high. If the price falls
Bitcoin closed in on the lowest in three weeks as the cryptocurrency’s sizzling rally gives way to pessimism that prices are too high.
Bitcoin tumbled as much as 11.3% Thursday, sliding below $31,000. The largest digital asset has trended lower ever since breaking through $40,000, and losses have accelerated in the past two days.
While soaring crypto prices fueled a speculative mania among the Robinhood crowd, it’s also made professional investors reluctant to buy at the top. Prices are still more than double the levels from early November and some technical analysts have argued that a retracement is overdue. It last traded below $30,000 on Jan. 4.