Bitcoin (BTC) continues to be influenced by the dollar on April 27. The dollar continues to threaten all risky assets on the market. How Kriptokoin.com , we convey the general market situation, expected levels for Bitcoin and analysts’ opinions.
Bitcoin is trying to stay on the supports
Bitcoin (BTC) continues to be influenced by the dollar on April 27. The dollar continues to threaten all risky assets on the market. Bitcoin, on the other hand, presents an insecure situation, despite the best efforts of the bulls to contain the short-term support levels on April 27. Bitcoin, which fell to $37,700 on April 26, rose to $39,200 with a rise that began immediately after that. Converting this level into support is now crucial.
Analyst Mikael van de Poppe, known for his analysis and forecasts on cryptocurrencies, indicated that $39,300 could act as a springboard for the BTC/USD pair to attack short-term resistance. According to the analyst, if the pair overcomes this level, it can target $ 42,600. The analyst went on to state his views on Bitcoin as follows:
If we lose this level as support, I think we will be stuck on the nose as we will trigger liquidity below the lower prices. If the markets are ready to explode, I think we can finally reach the bottom at $30,000.
Control over the dollar is growing as critical resistance approaches
Mikael van de Poppe is not the only analyst who predicts the price of BTC at $30,000. Other names targeting $30,000 include former BitMEX CEO Arthur Hayes and Bloomberg Intelligence chief commodities strategist Mike McGlone. Meanwhile, Hayes expanded on his short- and medium-term vision of asset prices in his latest blog post. Hayes stated that by 2030, the price of bitcoin will reach $ 1 million, respectively, and gold — $ 20,000. On April 18, XAU/USD was trading around $2,000.
Having reached 103.28 on April 27, DXY is trying to reach and break through its highest levels since March 2020. If successful, this will mean the highest level in recent decades. Van de Poppe notes 103.77 as a level worth keeping an eye on, while an upside breakout will ease the pressure on bitcoin and other risky assets. The analyst continued his statements as follows:
If DXY finds a new high — which is likely to be above these highs — and takes liquidity there, I think you will want to hold a long position on Bitcoin. This will mean a “serious jump” for BTC if the DXY rollback is accompanied by BTC/USD recovery support.