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Bitcoin Price Prediction For April 5th
The cryptocurrency market has been exhibiting some extraordinary price movements in recent times. Despite the gloomy macroeconomic outlook, Bitcoin (BTC) has demonstrated its resilience and adaptability. On Friday, China retaliated against the U.S. tariffs, further weakening major stock indexes led by the S&P 500, the Dow Jones Industrial Average, and the Nasdaq composite.
In the face of this uncertainty, investors have turned to Bitcoin as a safe-haven asset. The cryptocurrency’s price has responded accordingly, teasing $84k as its trading volume surged over 22 percent to approximately $42 billion on Saturday during the mid-London session.
However, experts are divided on what the future holds for the digital gold. On one hand, veteran financial trader Matthew Dixon expects a major capitulation towards $70k due to the tariff-induced points drop in history for the Dow Jones.
On the other hand, Bitcoin has established a robust support level of around $80.5k, which could form a basis for the next rally towards $85.5k and $92k soon.
It remains to be seen whether these predictions come true or not.
Source: https://coinpedia.org/price-analysis/bitcoin-price-prediction-for-april-5th/
