
The post Bitcoin Live Price: BTC Price Can Surge 20% If This Scenario Plays Out appeared first on Coinpedia Fintech News
The emergence of Bitcoin ordinals alias NFTs and the BRC-20 market has significantly increased the average Bitcoin transaction fees in the past few weeks. The Bitcoin average transaction fee spiked to a 12-month ATH of around $19.21, with some centralized exchanges charging as high as $60 to process. Nevertheless, some exchanges are navigating the high Bitcoin congestion through the use of the lightning network.
As the miners enjoy profitable block rewards, crypto investors and users are opting for cheaper and more efficient blockchains at the expense of the Bitcoin network. As a result, the Bitcoin sell pressure could increase in the coming days, pushing the asset toward $25k
Bitcoin Bullish Stance
According to a famous crypto trader Captain Faibik, Bitcoin price could be looking to see a 20 percent spike towards $33.7k in the near term. In his latest Bitcoin analysis, Captain Faibik noted that the $27.3K support has held strong in the recent past, thereby assuring a possible bounce back.
“If Bitcoin can Maintain its Position above this Support level and Experience a Bounce Back, there’s a strong possibility of a 20% Bullish Rally,” the analyst insisted.
The analyst noted that the symmetrical triangle is likely to hold in the coming days with a strong rebound.
Low Exchange Balance
The amount of Bitcoin balance on centralized exchanges has hit a five-year ATL, according to on-chain data from Santiment. The withdrawal of Bitcoin from centralized exchanges is a sign of increased self custody, and overall bullish for the crypto market.

From a different perspective, Bitcoin price could be forming a possible head-and-shoulder (H&S) formation in preparation for a market capitulation. Moreover, Bitcoin’s daily RSI shows a falling divergence on a possible triple top.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks