Bitcoin Price Prediction and Forecast, 12th Jan 2021

Bitcoin Price Prediction and Forecast, 12th Jan 2021
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Here is the Bitcoin Price Prediction as on January 12th. Predictions are both short term and for the month ahead. According to analysts, BTC is expected to trade between $ 29439 and $ 43584 today.

Bitcoin Price Prediction: Price this morning, Noon UTC

Bitcoin is trading at $ 35339 this afternoon, down 2.8% over a 24 hour period.

Bitcoin Price Prediction: Insights

Increased supply of Bitcoins, increased competition and a squeeze on leveraged derivative positions all played a critical role in the crash of Bitcoin prices yesterday.

Cryptocurrency analysts are growing increasingly concerned about the value of Bitcoin. They are concerned that BTC is in a “bubble” period, and may bust. Michael Harnett, the Bank of America Chief Investment Strategist especially emphasized Bitcoin’s bubble tendency.

Bitcoin Price Prediction: Technicals

DailyFX, Support S3: $ 30999, Resistance R3: $ 48674

Inside Bitcoins: Support: $ 26300, Resistance : $ 43000

FX Street, Support S1: $ 31018.71, Resistance R1 : $ 39078.17

Experts voice their opinions on Bitcoin investment

Bitcoin is still a buy according to Finder.com.au. They predict a year end (2021) price of $ 65000 but ask investors to be prepared for wild swings as high as 50%

Guggenheim Investments Chief Investment Officer suggests that Bitcoin is overpriced at the moment.

JP Morgan believes Bitcoin could touch $ 146000 in the long term.

Mark Cuban advises that prospective investors should only invest as much money as they are willing to lose.

Anthony Pompliano, co-founder of Morgan Creek Digital Assets, states that investors to starts small and do a lot of research about Bitcoin.

Investor Bill Miller emphasizes that as Bitcoin prices increase, it will likely become safer to invest in the cryptocurrency.

Tyler Winklevoss, cryptocurrency investor and co-founder of Winklevoss Capital Management has tweeted that Bitcoin is already up 10% this year, only 11 days into 2021.

Bitcoin Price Prediction and Forecast, 12th Jan 2021

Willy Woo, a popular Bitcoin analyst has tweeted that Bitcoin could easily become more volatile with its high price trades in the cryptocurrency market.

Bitcoin Price Prediction and Forecast, 12th Jan 2021

Bitcoin Price PredictionNews Updates

  1. The British regulator FCA said that investors should be prepared to lose all the money they invest in Bitcoin.
  2. Bitcoin hovers around $35,000 as it begins to decline back to a value of $30,000.
  3. FX Street reports that in order for this cryptocurrency to recover, it must have short term support and improvements.
  4. CoinBase highlights that Bitcoin has declined by approximately 10.9% in the past two hours, trading around $34,000.
  5. Bitcoin’s 24 hour range has been between $30,305 and $38,947.
  6. Bitcoin and other digital assets wiped $150 billion off of the cryptocurrency trading market, according to CNBC.

Read yesterday’s update here

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered advisor to guide you on your financial decisions. 

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