{"id":560367,"date":"2023-11-13T10:00:38","date_gmt":"2023-11-13T10:00:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=560367"},"modified":"2024-06-11T09:20:37","modified_gmt":"2024-06-11T09:20:37","slug":"bitcoin-price-31000-key","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-31000-key\/","title":{"rendered":"Bitcoin Price Hard Crash Or Mega Pump: Why $31,000 Holds The Key"},"content":{"rendered":"

The Bitcoin price has been trading in a tight range around the $37,000 price level through the weekend. This tight trading suggests that there is a lot of fighting going on right now between the bulls<\/a> and the bears<\/a> as each camp tries to gain an upper hand over the other. As this tug of war continues, a crypto analyst<\/a> has presented the most important level that will determine whether the bulls or the bears will claim dominance.<\/p>\n

$31,000 Is The Magic Number For The Bitcoin Price<\/h2>\n

Crypto analyst Ben Vouh took to TradingView to share their analysis of where the price of Bitcoin will be depending on whether the price stays above or below $31,000. According to the analyst, this level is the most important determinant factor for whether the Bitcoin price will continue its uptrend or crash back below $20,000.<\/p>\n

Related Reading: Crypto Analyst Confirms Dogecoin Price Breakout \u2013 Here\u2019s The Target<\/a><\/div>\n

The two scenarios presented include whether the Bitcoin<\/a> price closes the week above or below $31,000. If Bitcoin were to close the week below the $31,000 level, then Vouh expects a massive crash to follow. This crash could see the price fall to $18,400, as illustrated in the analyst\u2019s chart.<\/p>\n

\"Bitcoin<\/p>\n

Source: Tradingview.com<\/a><\/pre>\n
For the second scenario, if the Bitcoin price is able to close the week above $31,000, then the crypto analyst expects the uptrend of the last few weeks to continue, putting the top above the $42,000 mark. This would translate to another 20% move for the cryptocurrency\u2019s value<\/a>.<\/p>\n
\"Bitcoin<\/p>\n
Source: Tradingview.com<\/a><\/pre>\n
The crypto analyst highlights the fact that the Bitcoin Fear & Greed Index<\/a> is sitting very high. At a score of 72, the crypto market is firmly in greed, which is a sentiment score that has often preceded crypto market crashes. Given this, the analyst advises investors to be careful during this time. \u201cI would recommend to just hodl and wait,\u201d Vouh said.<\/p>\n
BTC Starts Out The Week On A Slow Note<\/h2>\n
With the new trading week opening up, the Bitcoin price has not exactly started off on the most bullish note. It is trading below $37,000 as of the time of this writing and is seeing 0.46% losses on the daily chat. This could mean that investors are currently watching to see what happens next before making their next move.<\/p>\n
Related Reading: New All-Time Highs For Bitcoin In 2023? Analyst Shares Ultra Bullish Prediction<\/a><\/div>\n
The Fear & Greed Index<\/a> has reached its highest level in 2023 so far, with a score of 74 on November 6. While prices have not begun to tank, there could be a crash on the horizon as the analyst points out.<\/p>\n
One example of this was on April 16, 2023, when the Fear & Greed Index reached a peak of 68. In the next few days, the price would fall around $3,000, dropping from above $30,300 to below $27,400. The same was the case on July 12 when the index hit 64. This marked the top of the rally and the BTC price<\/a> would go from $31,000 to below $26,000.<\/p>\n
\"Bitcoin<\/p>\n
BTC price performance over the year 2023 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from The Daily Hodl, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Bitcoin price has been trading in a tight range around the $37,000 price level through the weekend. This tight trading suggests that there is a lot of fighting going on right now between the bulls and the bears as each camp tries to gain an upper hand over the other. As this tug of war continues, a crypto analyst has presented the most important level that will determine whether the bulls or the bears will claim dominance. $31,000 Is The Magic Number For The Bitcoin Price Crypto analyst Ben Vouh took to TradingView to share their analysis of where the price of Bitcoin will be depending on whether the price stays above or below $31,000. According to the analyst, this level is the most important determinant factor for whether the Bitcoin price will continue its uptrend or crash back below $20,000. Related Reading: Crypto Analyst Confirms Dogecoin Price Breakout \u2013 Here\u2019s The Target The two scenarios presented include whether the Bitcoin price closes the week above or below $31,000. If Bitcoin were to close the week below the $31,000 level, then Vouh expects a massive crash to follow. This crash could see the price fall to $18,400, as illustrated in the analyst\u2019s chart. Source: Tradingview.com For the second scenario, if the Bitcoin price is able to close the week above $31,000, then the crypto analyst expects the uptrend of the last few weeks to continue, putting the top above the $42,000 mark. This would translate to another 20% move for the cryptocurrency\u2019s value. Source: Tradingview.com The crypto analyst highlights the fact that the Bitcoin Fear & Greed Index is sitting very high. At a score of 72, the crypto market is firmly in greed, which is a sentiment score that has often preceded crypto market crashes. Given this, the analyst advises investors to be careful during this time. \u201cI would recommend to just hodl and wait,\u201d Vouh said. BTC Starts Out The Week On A Slow Note With the new trading week opening up, the Bitcoin price has not exactly started off on the most bullish note. It is trading below $37,000 as of the time of this writing and is seeing 0.46% losses on the daily chat. This could mean that investors are currently watching to see what happens next before making their next move. Related Reading: New All-Time Highs For Bitcoin In 2023? Analyst Shares Ultra Bullish Prediction The Fear & Greed Index has reached its highest level in 2023 so far, with a score of 74 on November 6. While prices have not begun to tank, there could be a crash on the horizon as the analyst points out. One example of this was on April 16, 2023, when the Fear & Greed Index reached a peak of 68. In the next few days, the price would fall around $3,000, dropping from above $30,300 to below $27,400. The same was the case on July 12 when the index hit 64. This marked the top of the rally and the BTC price would go from $31,000 to below $26,000. BTC price performance over the year 2023 | Source: BTCUSD on Tradingview.com Featured image from The Daily Hodl, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":560369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,6848,1119,89185,1122,17066,1144,78790,6664,26263,14690],"class_list":["post-560367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-btc","tag-btc-news","tag-btc-price","tag-btc-price-prediction","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Hard Crash Or Mega Pump: Why $31,000 Holds The Key<\/title>\n<meta name=\"description\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Hard Crash Or Mega Pump: Why $31,000 Holds The Key","url":"http:\/\/ktsl888.com\/news\/bitcoin-price-31000-key\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-price-31000-key\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/Bitcoin-price-Small.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/Bitcoin-price-Small.jpeg?fit=320%2C183"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","bitcoin price prediction","btc","btc news","btc price","btc price prediction","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2023-11-13T10:00:38Z","datePublished":"2023-11-13T10:00:38Z","dateModified":"2024-06-11T09:20:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Hard Crash Or Mega Pump: Why $31,000 Holds The Key\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-31000-key\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-31000-key\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Bitcoin-price-Small.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Bitcoin-price-Small.jpeg?fit=320%2C183\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin price prediction\",\"btc\",\"btc news\",\"btc price\",\"btc price prediction\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2023-11-13T10:00:38Z\",\"datePublished\":\"2023-11-13T10:00:38Z\",\"dateModified\":\"2024-06-11T09:20:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/Bitcoin-price-Small.jpeg?fit=320%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/560367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=560367"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/560367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/560369"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=560367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=560367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=560367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}