Analysis: Is it possible for Bitcoin to reach $37.5K before hitting $100K


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The cryptocurrency market has fallen over the past few days, and the price of Bitcoin is down 10% in a week.

It is trading at around $42,000.

According to a famous analyst nicknamed “SmartContracter” on Twitter, the bitcoin currency may reach the specified bottom at the price of $ 37,500.

At the moment, the talk in the crypto circles is about the final bottom of the Bitcoin, which the price will not fall below, which is very important because it means the possibility of buying and entering an ideal position in the long term.

This comes amid a significant drop in the price of Bitcoin, which is down 10% since last week.

Today, the largest cryptocurrency is down around 1%, trading at $41,800.

According to the same Twitter analyst, SmartContracter, who stated:

I think Bitcoin is falling anywhere between its current level and $37.5K and gives us a structure similar to what we saw in 2019 only on a larger time scale, with the trend continuing towards the predicted 100,000 being reached in 2022.

As a reminder, the year 2019 started with Bitcoin trading relatively close to the bottom recorded in November 2018, i.e. just above $3,000.

As the months passed, the cryptocurrency peaked at around $14,000 over the summer and then returned to $5,000 by March of the following year 2020.

Analyst “SmartContracter” also gave his prediction of what will happen once the bitcoin price reaches $100,000 and said:

After more than $100,000, we will enter a bear market territory like the one that extended in 2018.

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