Bitcoin Price Risks Massive Crash As Critical Support Level Fails

Table of Contents

• Bitcoin Could Further Plummet According to Analyst
• ETFswap Maintaining Success In A Bearish Market

Bitcoin (BTC), the largest asset in the crypto industry, hit an all-time high of $73,000 in March 2024, igniting a rally that made the price of several assets in the crypto market soar in value. However, just a few days after the fourth Bitcoin halving on April 19, the price of the flagship asset became erratic.

Recently, Bitcoin (BTC) fell below the $57,000 mark, defying the critical support level projected by two price analysts. This has sparked discussion in the crypto industry as to whether this is the end of a bullish run for the token

Bitcoin Could Further Plummet According to Analyst

Price analyst Ali Martinez, on Monday, April 29, identified the $61,900 mark as a crucial support level for Bitcoin (BTC). Martinez made this known on his X (formerly Twitter) page, stating that if Bitcoin (BTC) could manage to maintain this level, then there is a high possibility that it would rebound to $71,000.

Another crypto analyst, Michëal Van de Poppe, shared the same sentiments with Martinez, making the same projection about Bitcoin (BTC). However, Michëal chose to pick the $61,000 mark as the crucial resistance level for the coin, believing it would bounce back in a week after hitting that level.

However, just 24 hours after the analysis, Bitcoin (BTC) has fallen below the $61,000 mark, currently hovering around the $57,000 mark, trading at a 24-hour high of $61,774 and a low of $56,555, according to data from Coinmarketcap. Therefore, if Bitcoin (BTC) follows the price trajectory of the analyst’s prediction, the token could experience further lows, even crashing to the level it saw in 2022 when it dropped below $18,000.

However, While both analysts have made these predictions after carefully analyzing the Bitcoin (BTC) price chart and its past price data, it’s important to note that cryptocurrencies are volatile assets. Therefore, it is next to impossible to know what their price will be precisely in a specific period.

ETFswap Maintaining Success In A Bearish Market

While the crypto market is experiencing a strong correction, plunging down the price of assets, ETFswap (ETFS) has remained the focus of crypto investors with its ongoing presale event and unique ecosystem. ETFswap (ETFS) is a blockchain platform that aims to bring exchange-traded funds (ETFs) on-chain through the tokenization of assets. By tokenizing ETFs, the platform makes various assets across several industries available to all crypto community members.

However, to gain access to this feature, users must purchase ETFS, the platform’s native token, which will be the fuel driving its ecosystem. Further, ETFS will be a governance token allowing holders to actively participate in making decisions that affect the network through voting.

Currently, ETFswap (ETFS) is offering the token at a low price of $0.00854 in its stage 1 presale to all who want to join the ETFswap ecosystem. One of the factors attracting the attention of several investors in buying the presale, aside from gaining access to trade ETFs, is that they will also profit on their tokens when stage 2 starts at a higher price of $0.01831.

Additionally, the platform is equipped with a web3 marketplace designed to make trading easy for crypto newbies and experts. In addition, experienced traders can benefit from fractional ownership and leverage trading with up to 10x leverage to amplify their portfolio and boost their earnings.

Also, token holders can earn passive income through the staking feature on the network with a structure that offers enticing APRs. Amidst this turbulent time in the crypto market, ETFswap (ETFS) assures investors profits on their investments; grab this opportunity today and buy ETFS at presale to seal your chance of making profits despite unfavorable market conditions.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

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Bitcoin Price Risks Massive Crash As Critical Support Level Fails

was first posted on May 5, 2024 at 6:37 am.
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