If these conditions repeat, bitcoin could rise another 30% in the next few days.
- Bitcoin would pass $ 70,000 if the pattern of past months holds.
- When big option sellouts approach, bitcoin remains lower.
After a few days of relative calm for the price of bitcoin, oscillating between 53,000 and 60,000 dollars per currency, a new impulse could come in the next few days. This is how the analyst and influencer linked to bitcoin, Juan Rodríguez, known as @juanbiter in social networks, considers it.
Just this Friday, March 26, the equivalent of 6,000 million dollars in contracts in this market is settled, according to Deribit records . The analyst pointed out that, as dates like this approach, the pressure of large whales that provide liquidity to the market grows to move the price of the cryptocurrency in any of the directions, according to their convenience.
Typically, these whales target the " Max Pain Price ", or the price at which the cryptocurrency would make investors lose more money. Hence, the interest of the sellers (the house, as @juanbiter calls them ) to affect the market valuation of BTC. For this wave of contracts to be settled, the price of the biggest losses would be $ 44,000 per bitcoin. Whales would target that price, although it would mean a drop of around 20% with respect to the price of the cryptocurrency, which is currently around $ 55,000, according to the price section of CriptoNoticias.