{"id":305302,"date":"2021-07-22T11:14:24","date_gmt":"2021-07-22T08:14:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-traders-split-on-40k-chances-as-altcoins-eye-potential-80-150-gains\/"},"modified":"2021-07-22T11:14:24","modified_gmt":"2021-07-22T08:14:24","slug":"bitcoin-traders-split-on-40k-chances-as-altcoins-eye-potential-80-150-gains","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-traders-split-on-40k-chances-as-altcoins-eye-potential-80-150-gains\/","title":{"rendered":"# Bitcoin traders split on $40K chances as altcoins eye potential &#8217;80-150%&#8217; gains"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33b03625269\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33b03625269\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-traders-split-on-40k-chances-as-altcoins-eye-potential-80-150-gains\/#BTC_bulls_regroup_at_32000\" >BTC bulls regroup at $32,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-traders-split-on-40k-chances-as-altcoins-eye-potential-80-150-gains\/#Van_de_Poppe_Altcoins_would_boom_if_Bitcoin_takes_off\" >Van de Poppe: Altcoins would boom if Bitcoin takes off<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin traders split on $40K chances as altcoins eye potential &#8217;80-150%&#8217; gains <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) circled $32,000 on July 22 after excitement over fresh comments by Elon Musk resulted in strengthening of support.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/fd926237-1278-48e0-81f4-d9fabbfe4dbf.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_bulls_regroup_at_32000\"><\/span>BTC bulls regroup at $32,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>\u00a0showed BTC\/USD ranging between $31,500 and $32,000 overnight on Wednesday, hours after Musk joined others in praising Bitcoin during a conference panel.<\/p>\n<p>As Cointelegraph reported, Musk&#8217;s words came over broadly positive and less critical than many had assumed they would be \u2014 this in turn led to a brief price surge which topped out above $32,800.<\/p>\n<p>Thereafter, familiar resistance kicked in and $32,400 once more became the level to flip, a feat which Bitcoin has yet to achieve.<\/p>\n<p>Nonetheless, previous gains from below $30,000 remained intact, and there was equally little evidence of a major retracement about to kick in on Thursday.<\/p>\n<p>&#8220;If we look at the price action of Bitcoin, we can clearly see and state that we&#8217;re holding above $31K,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1418107925579587584\/\">said<\/a>. <\/p>\n<blockquote><p>&#8220;If that sustains, and the market grants a higher low, I think we&#8217;ve found a temporary bottom &amp; we&#8217;ll test $40K.&#8221;<\/p><\/blockquote>\n<p>Independent analyst and trader Keith Wareing was neutral about the Musk episode. He argued that since no resistance levels had truly cracked, nothing had fundamentally changed in the short-term BTC price landscape.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Elon pump (yay)<\/p>\n<p>Rejected bang on, literally bang fucking on the handle (booo)<\/p>\n<p>But TA is a load of bullshit so it means nothing right?<\/p>\n<p>Wake me up when we break and close above $42300, otherwise it\u2019s still chopsville <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/58V1cO0txq\">pic.twitter.com\/58V1cO0txq<\/a><\/p>\n<p>\u2014 Keith Wareing (@officiallykeith) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/officiallykeith\/status\/1418105646671667201?ref_src=twsrc%5Etfw\">July 22, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As such, buy and sell positions among traders likewise continued their trend from earlier in the week \u2013 with the addition of $33,000 slowly forming a resistance zone and support conversely stepping in at $31,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/da5f3379-ca03-4296-bc88-0ee6a385bbd7.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell levels (Binance) as of July 22. Source: Material Indicators\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Van_de_Poppe_Altcoins_would_boom_if_Bitcoin_takes_off\"><\/span>Van de Poppe: Altcoins would boom if Bitcoin takes off<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins likewise cemented gains which commonly ranged between five and ten percent on the day.<\/p>\n<p><strong><em>Related:\u00a0Altcoins secure double-digit gains after Bitcoin surges toward $33K <\/em><\/strong><\/p>\n<p>Dogecoin (DOGE), which began its run-up ahead of Musk&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earance, traded still below $0.20 at the time of writing, with daily returns nearing a more modest 8%.<\/p>\n<p>Van de Poppe added that a scenario under which Bitcoin rises to range resistance at $40,000 or higher would have a much more pronounced impact on altcoin markets.<\/p>\n<p>&#8220;This would lead altcoins to run 80-150% from here,&#8221; he forecast.<\/p>\n<p>Ether (ETH), the largest altcoin by market cap, was back at $2,000, launching away from support levels after briefly losing its 2021 higher lows trend earlier in the week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/ae8b1e17-b3db-4f35-a300-58e6041ac4f6.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-traders-split-on-40k-chances-as-altcoins-eye-potential-80-150-gains\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin traders split on $40K chances as altcoins eye potential &#8217;80-150%&#8217; gains &#8221; Bitcoin (BTC) circled $32,000 on July 22 after excitement over fresh comments by Elon Musk resulted in strengthening of support. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC bulls regroup at $32,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD ranging&#8230;<\/p>\n","protected":false},"author":1,"featured_media":305303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNTdiM2U5YjItZDJlMy00MTEzLWE4ZTUtMGJmNmZhODFhZjk5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,86883,82402,39394,73785],"class_list":["post-305302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dogecoin","tag-ether-price","tag-elon-musk","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/305302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=305302"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/305302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/305303"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=305302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=305302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=305302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}