The top cryptocurrency Bitcoin (BTC) is once again seen on a recovery pace as BTC is rising by 17% for the day. In the last 24 hours, Bitcoin managed to score some remarkable gains, which brought the top crypto close to the price target of 38,000$ and the previous all-time high of nearly 42,000$. With the current pace of growth, Bitcoin might be able to revisit the last ATH in the following days and weeks. How is Bitcoin performing in the last seven days, and what are the monthly and yearly chart recording for the top crypto with the latest price correction?
Bitcoin (BTC) Price Analysis January 2021
As Bitcoin is showing clear signs of recovery with the latest price correction, we can see dips on an hourly level, however, daily gains are reading 17% of rises for the top crypto. Bitcoin weekly chart is showing returns of 20%, even though the biweekly chart is recording losses of -5.2%. The yearly chart is recording exceptional gains of almost 300%. Besides, Bitcoin went up by over 35% in the last 30 days. With the current situation, Bitcoin is down by -11.7% since making it to an all-time high price of nearly 42,000$. Another day like 29th January and BTC could easily revisit its historical record price. As Bitcoin started the year at a strong and even aggressive positive pace, forecasters, traders, and investors are expecting a great year for the top crypto.
Is Bitcoin BUY or SELL: Short-term and Long-term Analysis
When it comes to swing trading and short-term gains in intervals of 15 minutes, 9 out of 26 Trading View analysts are NEUTRAL on BTC, which is also a consensus. Out of the same number, 10 analysts think that BTC is a SELL and the remaining 7 are suggesting that BTC is a BUY. Long-term forecast from Trading View for the period of the next 30 days places Bitcoin in the BUY basket with 12 out of 17 votes for BUY.
Image credits: Cover photo taken from Andre Francois McKenzie on Unsplash