The cryptocurrency industry has regained its footing thanks to the growth of its main assets, notably Bitcoin (BTC), whose recent advances have prompted several crypto trading specialists to predict its critical price levels in the near future.
According to a September 29 tweet by market expert Michal van de Poppe, Bitcoin might gain “some momentum” if it maintains support above $19,000 “or retake $19.3K”
According to the professional trader: “If it holds, $19,600 seems likely results, followed by momentum,”
Similarly, crypto trader and analyst Josh Rager published his own optimistic analysis on September 29, stating that a “bounce here to $21ks or rebound higher to $24ks” is feasible based on the daily close.
Moreover, both professional crypto traders are anticipating the publication of the new Personal Consumption Expenditures (PCE) price index for August on September 30, anticipating that it would have an influence on the price of Bitcoin.
According to CoinMarketCap statistics, the first cryptocurrency is presently trading at $19,541, up 0.47% on the day and 2.26% over the last seven days, with a market value of $374.21 billion.
It is also worth mentioning that Bitcoin and Ethereum (ETH) are currently holding their own “without the assistance of the S&P500, which is down -2.4%,” as noted by the on-chain and social analytics platform Santiment on September 29. “If the connection is weakening between crypto and stocks, this is highly positive,” Santiment said.
In addition, according to Finbold, market data indicates that investors are trading record quantities of euros and pounds for Bitcoin as a result of the dropping value of fiat currencies.