The Bitcoin price trading value has hit $41,934.38 in the open market Monday, which is down by 0.95% on its index. The crypto is still recuperating after a 50% drop from its all-time high of $69,500 in November last year. Its value has been able to rally from $33K, and crossing the psychological resistance level of up to $40,000. The bullish trend continues to ramp up as technical indicators have reached their oversold levels. The fear and greed index, which measures investors’ perceptions and personal assessments of the market, has risen to level 46 after falling to level 44 not long ago. Bitcoin Price: Positive Returns Analysts see Bitcoin having positive returns within the month, as technical indicators imply short-term buyers will be active around the $35,000-$37,000 support level for the near term. Still, its upside remains in the $45,000 mark. Despite the circumstances at hand, crypto analysts are still quite skeptical because of the Biden administration’s planned release of an executive order this month to regulate Bitcoin. BTC/USD at $44,052 in the daily chart | Source: TradingView.com Related Reading | Bitcoin Fundamentals Show Signs Of Fresh Rally, Here Are Things To Consider Bitcoin Forecast According to recent forecasts, the long-term price of Bitcoin might reach up to $150,000, representing a significant increase over the previous year’s expectation of $146,000. Coinbase data figures sh...
