"There are a lot of expectations, before February 24, now it's another 4 weeks."
The price of the king of cryptocurrency Bitcoin (BTC) has still failed to break through its strong resistance level of $25,000 when it is still hovering around $23,440 after plunging to the level of $22,800 last week.
Even so, the price of BTC during this period indicated a positive movement following previously, risk assets were more affected while the United States (US) equities suffered due to inflation data that exceeded expectations.
According to popular trader Kaleo, BTC has the potential to reach $30,000 before the end of the month even though the price currently remains below the lows.
While a crypto trader named Altcoin Sherpa believes that the price of BTC will cross $30,000 within four to six weeks, where he also said that the digital asset is in a phase of transition from bearish to bullish.
While senior macro strategist at Bloomberg Intelligence, Mike McGlone thinks differently by voicing his doubts about BTC's ability to break through the resistance zone at $25,000.
McGlone not only predicted that the price of BTC will fall in the near future but that the digital asset may need a longer period to recover, in which overall he concluded that the movement of BTC so far remains bearish.
As of this writing, the price of BTC managed to jump by 1.48% in the last 24 hours with a trading volume worth $452 billion but still saw a decrease of 2.35% in the last seven days.
