LATOKEN Review. What Might Happen to Bitcoin Shortly? Three Possible Options
On September 22, the Bitcoin price, the first cryptocurrency, for the first time in the past six weeks fell below $40 thousand. In this LATOKEN review, let’s try to figure out if this can reverse the global upward trend and negatively affect the digital asset market? What to know about Bitcoin price prediction? Read more in our LATOKEN review!
A moment of uncertainty. LATOKEN review
After falling to $40 thousand, the Bitcoin rate met support in the zone, from which the asset began to grow rapidly in August 2021. However, some believe that in the short term, the price of the first cryptocurrency may go to a new trend zone, which is at the level of $44–45 thousand.
If we talk about a longer-term movement, the “bears” most likely seized the initiative. With a new breakdown of $40 thousand, the reduction targets might be looming up to $32–33 thousand.
Still a normal correction
A decline in the price to $40K is probably a normal correction and cannot change the overall medium-term bullish trend. The current bitcoin price prediction is good for entering the asset since the probability of the first cryptocurrency updating its all-time high before the end of this year still remains.
It may be necessary to be prepared for local corrections below the $40K level, which might not change the overall bullish situation.
In the medium and long term, Bitcoin’s movement is likely to remain upward. However, perhaps quotations for several months can get stuck in the range of $30–50 thousand in case of fundamental negative factors.
There might be no reason for growth. LATOKEN review
Bitcoin is now likely to be in a downtrend amid increasing regulatory pressure. In this LATOKEN review, we want to remind you that recently the President of Turkey declared war on cryptocurrencies, and already on Monday, the crypto market collapsed against the background of declining stock markets.
An additional factor of market pessimism was the problem of the US national debt — Congress must decide whether to raise the national debt or not. If the decision is negative, it may mean a technical default in the United States, the world’s first economy.
Pessimists believe that, on the whole, the crypto market is in the negative, and in the near future, there are no particular reasons for growth. However, in the long term, the situation may change.
And what do you think about Bitcoin prediction? Do you believe that Bitcoin price might increase soon?
Anyway, you can always trade Bitcoin on the LATOKEN exchange!
LATOKEN is an international, one of the leading crypto exchanges, and IEO launch platforms with a focus on security and useability.
LATOKEN has 2 million accounts, including 1+ million mobile app installs with 4.5 reviews scored by 25+k users.
This crypto exchange is planning IPO as a top DeFi bet and is interested in VCs and partners with fintech IPOs and/or DeFi success cases on the belt.
LATOKEN is building a team to enter the US market, upgrade to institutional-grade exchange, launch DeFi products on LACHAIN, and bring commerce and banking to blockchain technology to automate transaction processing and save many business hours per year.
The platform offers 300+ digital assets available for traders with the option to connect using RESTful or WebSocket APIs on the LATOKEN platform.
LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.