Analysts say that $42,000 must be held to prevent Bitcoin prices from falling to lows

On September 27, Bitcoin bulls continued to fight the bears near the $43,000 support level, as China’s crackdown on all cryptocurrencies prevented the positive price movements last week and suppressed the growth of the day.

According to Eric Krown, a cryptocurrency trader and host The crypto cave of the crown, What will happen to Bitcoin next (Bitcoin) Does “depend on the time frame you are talking about”, but he is currently focusing on more mid- to long-term prospects.

exist The latest episode of “Market Report” In cooperation with Cointelegraph, the cryptocurrency trader stated that at present, “we may fluctuate in this low range of $40,000” and said that if BTC can hold $42,000, he will “focus on this potential reversal point.”

If BTC fails to maintain this support level, Krown stated that the price may continue to fall for a while and “all the way down to $32,000-33,000, [filling] The CME gap a few months ago. “

Although this is a possible situation, Krown said that as we enter the last quarter of 2021, he believes that the future of Bitcoin prices will be more positive.

Krone said:

“Actually, I am more optimistic here. I do think that no matter whether Bitcoin has bottomed out and spent some time here, or whether it has fallen to $32,000 to $33,000, I do think that the end of the year may look like a possibility very good.”

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