November 29, 2021

Bitcoin falls below $58K as Bloomberg eyes $80K BTC price in Q2

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Bitcoin (BTC) reversed recent gains to lose 1.5% on April 6 as bulls were kept frustrated with no sign of an attack on all-time highs 

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

Bitcoin will “likely” squash $60,000 resistance

Cointelegraph Markets Pro and TradingView showed local lows of $57,340 hitting during Tuesday after another failed attempt at tackling $60,000 resistance.

Despite being a matter of thousands of dollars away from all-time highs of $61,700, BTC/USD has been unable to drive sellers away for good. While thinning out, the last band of resistance has remained in place.

This slowdown in the 2020-2021 bull market has alarmed some, but professional analysts remain steadfast in their optimistic appraisals of the largest cryptocurrency.

Among them is Bloomberg Intelligence, which on Tuesday predicted that Q2 was more likely to deliver a further surge to $80,000 than a capitulatory move to $40,000.

“Adoption of the benchmark crypto as a global reserve asset has crossed the mainstream threshold, as we see it, and theTitle: Bitcoin falls below $58K as Bloomberg eyes $80K BTC price in Q2
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Published Date: Tue, 06 Apr 2021 16:09:37 +0100