Bitcoin (btc) price to hit $25k or $21k, what’s next?

Bitcoin price is most of the time moving laterally close to the $23K level after hitting a 5-month high of $23,282 recently. After a 40% rally in January, traders are speculating if the price of bitcoin will continue to go up and hit $25k or down to $21k. Popular analyst Michael van de Poppe believes that the rally is probably more than Bitcoin could not penetrate through a crucial resistance to $23.1K.

Bitcoin price risks going down to $21K?

Bitcoin keeps moving above the $23K level among the optimism of fresh investors.

Whether the current BTC price movement can bring a bullish market is still a concern. Bitcoin price continues to progress and even went through his 200-dma, doing a 40% rally in January. However, there are still no major setbacks. Consequently, investors expect the price of carbon to fall.

The price of bitcoin would probably drop to $21k instead of $25k, the next positive level suggested by analysts, as the sentiment of traders is more likely to be bearish in the short run.

Crypto analyst Michael Van Poppe in a January 24 says Bitcoin price faces the difficulty of breaking over a crucial resistance to $23.1k. as well as I can tell, so bitcoin keeps making higher lows, then probably test and scan around $22.3k before the chase is more probable.

In addition, it will offer a good buying opportunity for investors who failed to grab Bitcoin at lower levels. At the beginning of January, Michael van de poppe predicted a massive increase in the BTC price that will fade before the fomc meeting.

Why Bitcoin Rally Is Likely Over

CoinGape published a recent analysis citing reasons why the Bitcoin price rally is likely over. The ECB expects interest rate rises of 50 bps in February and March.

The U.S. Federal Reserve is more likely to announce a 50 bps rate hike on February 1, as per economists. However, as per CME FedWatch Tool, the probability of a 25 bps rate hike is 99%.

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