{"id":16950,"date":"2024-09-13T15:35:25","date_gmt":"2024-09-13T12:35:25","guid":{"rendered":"https:\/\/forklog.com\/en\/key-support-levels-for-bitcoin-identified-by-experts\/"},"modified":"2024-09-13T15:35:25","modified_gmt":"2024-09-13T12:35:25","slug":"key-support-levels-for-bitcoin-identified-by-experts","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/key-support-levels-for-bitcoin-identified-by-experts\/","title":{"rendered":"Key Support Levels for Bitcoin Identified by Experts"},"content":{"rendered":"<p>Currently, the most critical support levels for Bitcoin are at $52,000 and $46,000, according to a report by <a href=\"https:\/\/www.ark-invest.com\/crypto-reports\/the-bitcoin-monthly-august-2024-report\/\">ARK Invest<\/a>.<\/p>\n<p>The latter represents the average on-chain price, highlighted in red on the chart below.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1210.webp\" alt=\"1-1210\" class=\"wp-image-241047\"\/><figcaption class=\"wp-element-caption\">Data: ARK Invest.<\/figcaption><\/figure>\n<p>Experts noted that the leading cryptocurrency lacked the strength for a significant rebound after a nearly 9% drop in August. As a result, the average BTC-ETF holder once again faced a &#8220;paper&#8221; loss, they pointed out.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-894.webp\" alt=\"2-894\" class=\"wp-image-241048\"\/><figcaption class=\"wp-element-caption\">Data: ARK Invest.<\/figcaption><\/figure>\n<p>Experts maintain a bearish outlook on digital gold in the short term.<\/p>\n<p>They highlighted several positive factors: <\/p>\n<ul class=\"wp-block-list\">\n<li>low drawdown relative to historical norms; <\/li>\n<li>minimal liquidations among speculators;<\/li>\n<li>a favourable macroeconomic environment.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Altcoins<\/strong><\/h2>\n<p>Bitfinex <a href=\"https:\/\/blog.bitfinex.com\/wp-content\/uploads\/2024\/09\/Bitfinex-Alpha-121.pdf\">noted<\/a> that altcoins remain relatively strong amid Bitcoin&#8217;s decline. They believe this could indicate a shift in how investors protect their capital during market uncertainty.<\/p>\n<p>Analyst and MN Trading founder Micha\u00ebl van de Poppe observed a bullish momentum in several tokens.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Feels strange, right?<a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a> going up day after day. <\/p>\n<p>Some particular ones are doing great, through which we&#8217;re starting to show some momentum.<\/p>\n<p>I don&#8217;t believe September is going to be worse, I think we&#8217;ll gradually accelerate upwards from here.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1834327309949829430?ref_src=twsrc%5Etfw\">September 12, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I don&#8217;t think September will be worse. I assume we&#8217;ll gradually move upwards from here,&#8221; the expert commented.<\/p>\n<\/blockquote>\n<p>Earlier, Bitwise stated that the digital asset market would enter a growth phase in October-November due to the resolution of macroeconomic and political uncertainties in the US.<\/p>\n<p>Standard Chartered concluded that Bitcoin could reach a new record by the end of the year, regardless of the outcome of the US presidential elections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Currently, the most critical support levels for Bitcoin are at $52,000 and $46,000, according to a report by ARK Invest. The latter represents the average on-chain price, highlighted in red on the chart below. Data: ARK Invest. Experts noted that the leading cryptocurrency lacked the strength for a significant rebound after a nearly 9% drop [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,1218,95,1146],"class_list":["post-16950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-ark-invest","tag-bitfinex","tag-cryptocurrency-market-forecasts"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16950"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16949"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}