Bitcoin Price Prediction – When Will the Next Bull Market Start?

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Bitcoin Price 

The current Bitcoin price is $16,856, and the 24-hour trading volume is $21 billion. The price is down just over 1% today, along with the second-leading cryptocurrency Ethereum.

1670433523 594 Bitcoin Price Prediction – When Will the Next Bull Market
Bitcoin Price & Tokenomics – Source: coinmarketcap

Given the strong US dollar, the BTC/USD pair has broken down below the $16,900 support level, which is now acting as resistance. In this scenario, BTC could fall to the next support level of $16,500 or even $16,000.

Alternatively, a bullish breakout above $16,900 could expose the BTC price to $17,200 or $17,350.

1670433523 308 Bitcoin Price Prediction – When Will the Next Bull Market
Bitcoin Price Chart – Source: Tradingview

Compiled by Coinbold

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