The price consolidation of bitcoin is seen as a positive sign for the rest of the cryptocurrencies.
Bitcoin ends without major movements for today (August 13, 2023)
Bitcoin ends the week without major movements and continues to show low volatility. The #Criptomonedas is in the $30,400 area this Sunday, a price consolidation that is seen as a positive sign for the rest of the market.
Analysts present bullish projections for the second half of the year, despite the fact that the price of the cryptocurrency has been stuck within the same range for weeks.
Specifically, bitcoin fails to overcome the resistance zone located at $31,500. Experts consider that the cryptocurrency should resume bullish momentum and return to the $29,800 area as support. However, if this does not happen, they estimate that the price could return to the support level at $28,500.
Blockstream CEO Adam Back goes further. Bet that bitcoin will exceed $100,000. Of course, we will have to wait until 2024. Specifically, before March 31 of next year.
Meanwhile, analyst Cole Garner believes the price of bitcoin may turn "all bullish" next month if the trend continues. "Whale accumulation trends are the backbone of a bull market," he noted.
Elsewhere in the cryptocurrency market, $ETH falls to $1,833, $BNB drops to 240, Cardano to 0.3, while $SOL rises to 23 $.94.
Do you think bitcoin will reach the support of 28,900? Tell me why in the comments.
