Can Bitcoin Break Through US$30k Before the End of the Month?

Bitcoin volatility is a constant factor that long-term investors have to continue to deal with in the future

The current crypto market meltdown has been a reality check for several investors who have been previously quite reckless about their cryptocurrency investment strategies. The meltdown frenzy sent crypto buyers into a full panic mode and caused them to flee the market. The economic instability in the global markets is one of the primary reasons that led to the massive downfall of Bitcoin. But, after much speculation and volatility, the BTC token has finally risen to a substantial price range and is slowly marching towards the US$30k range. Meanwhile, analysts are also predicting that before Bitcoin embarks on its brand new price rally, the crypto will definitely decline to the US$10k range before ascending upwards to the US$30k zone. The BTC price has already crashed by more than 60% this year and after a positive uptrend in its value, investors have finally turned from their 'extreme fear' index to merely 'fearful'. We can only expect that the price of the largest cryptocurrency does not plummet further this year!

Bitcoin rebounded shortly after the recent announcement regarding the probable launch of the Ethereum upgrade that triggered a rally for the entire crypto market. Cryptocurrency prices have been closely tracking the stock market this year and with the impending inflation, the markets continued to suffer, deepening fears about their investments and driving buyers away from the market. But Tim Beiko's announcement has ignited new hopes for the market. Ethereum has successfully helped Bitcoin to rally, but unfortunately, that seems to be a problem for BTC investors. If Ethereum really is driving the market's progress, then BTC might soon start to lose its market dominance, along with its value.

Is Bitcoin's price rally stable?

The free fall of the global crypto market might have ceased but the market is yet not stable. For quite a long period of time, Bitcoin has been stuck within the tight range of US$19k to US$21k. Time and again, the crypto has failed to breach the US$21k resistance and has fallen right below the US$20,000 mark. So, should crypto investors be skeptical about this price rally? Well, to be on the safer side, it might be wise for investors to remain cautious before investing in BTC this month. At the time of writing this article, the Bitcoin price has already dived to US$21k again, and given the volatility of the market, it is quite impossible to predict if its prices will plummet further than this or not!

Experts believe that Bitcoin's price will likely fall as it will also continue to grow. But the future of cryptocurrency will surely include plenty of volatility and that is something the investors will have to continue to deal with as long as they are part of the crypto market. It might seem quite overwhelming and daunting for some investors as they also have to deal with the drastic macroeconomic factors of the market. Also, the deepening fears around crypto ban and regulations are further instigating investors to sell off their tokens. Nevertheless, some reports indicate whales and investors are returned back to the grind as soon as the market condition improved. Maybe that will ignite some hope among the other investors, eventually raising trading volumes of the digital assets.