Will Bitcoin Shoot Over $40,000 — Or Drop To $35,000?

The king of cryptocurrency, Bitcoin, has slumped below its price support following crucial development on EPA environmental issues and other factors. Bitcoin price is now at $38,832.74 as of this writing. Now, many bitcoin experts are worried that Bitcoin’s price could plummet further as it struggles to hold onto the $38,000 price level. Suggested Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300% Profit-Taking Culprit For Bitcoin Slump More so, profit-taking may have some impact on why Bitcoin is straining to breach the $40,000 mark. Support at the $38,000 level could also be holding as triggered by the buy-the-dip sentiment. Santiment, a cryptocurrency data feed for investors, has tracked an increase in BTC in-profit transactions. The count has ramped up fast over the last two weeks which were all classified as selling. That being said, the BTC market price may not speedily recover unless traders put a stop to selling. Bitcoin has been trading below $40,000 over the past week. The low volumes can be disheartening to crypto traders and investors. BTC total market cap at $731.71 billion on the daily chart | Source: TradingView.com Additionally, Bitcoin has also suffered a massive drop on Sunday yet has recovered the following day. So, in the last 24 hours, the price has climbed and bounced back by 2.7%. ZebPay analysts said the top currency has glided down at $38,750 with a 61.8% Fibonacci Retr...