Bitcoin price climbs Friday, but will it continue?
Mashable • • business
Key Points:
- Bitcoin and cryptocurrency markets are rebounding, with Bitcoin surging back above $70,300 after recent multi-year lows.
- Early investor Michael Terpin predicts a temporary rise above $80,000 before a potential final plunge, possibly dropping to $45,000 if key support levels at $60,000 and $65,000 fail.
- Analysts warn that Bitcoin could fall as low as $40,000 amid active selling by large investors ("whales") moving significant funds onto exchanges, signaling possible heavy dumping.
- Market recovery may be limited by slow institutional capital return and the unwinding of leveraged positions, contributing to ongoing price volatility.
- Current Bitcoin prices remain below the average mining cost of $87,000 per coin
