- Bitcoin prices stable above $5,000
- Tyler Jenks of Lucid Investments thinks prices will drop towards $4,200 and even $1,000
Fundstrat’s Bitcoin Misery Index is at around three-year-highs meaning investors are loosening their money purses. Whether that will spur demand, driving Bitcoin (BTC) prices above $6,000 will largely depend on how prices react at $4,800 and $5,500.
Bitcoin Price Analysis
In a space brimming with FUD, scares, and hype, traders ought to be pragmatic and level-headed to avoid liquidating an undervalued asset at a discount. First, we should note that Bitcoin prices reached highs of $5,500 a few hours after news of NDRC proposing of banning Bitcoin and crypto mining activities.
As absurd as it is, a section did fall for this scare, taking their profits minutes before the slide. Presently, what we have is a retest of $5,000, and after two weeks of solid marching, Bitcoin buyers now face some headwinds, but this is normal considering the double-digit…
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