The bullish sentiment will continue.
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Experts explained why the first cryptocurrency has the potential for growth and why the price of the asset will not be able to exceed $46,000 in the coming days

This week, the price of bitcoin reached $44.5 thousand. This happened after the US Department of Labor published data on a record growth (7%) in consumer inflation over the past 40 years in December 2021. at 10:55 time on January 16, the cryptocurrency is trading at $43.1 thousand. experts predicted whether the asset could continue to grow in the coming week.

Resistance at $46,000

Next week, with a high degree of probability, the moderately bullish mood of market participants will continue, says director of the cryptocurrency exchange service. In his opinion, this will keep the cost of bitcoin above $42,000. However, the cryptocurrency rate will not be able to exceed $46,000, since the asset lacks fundamental indicators for such growth, the expert is sure.

“The most likely scenario is the continued fluctuation of bitcoin in the range of $42-46 thousand,” expert  predicted.

The next wave of volatility may cover the crypto market in mid-March, when the key rate in the US rises, the expert recalled. According to his forecast, at first the bitcoin rate may fall sharply, but the asset is able to quickly recover and move to growth, expert believes. According to him, this is due to the fact that investors consider bitcoin as one of the tools for hedging inflationary risks.

At around $45.7-46 thousand, there is a resistance level, says expert, CEO of In his opinion, in the coming week, bitcoin is unlikely to be able to break through this level.

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Important support area

The range of $42.2-40 thousand is a historically significant support level for bitcoin, says expert, co-founder of the crypto exchange. In his opinion, in the coming days, the cryptocurrency will continue to test this support level with periodic drops to $40,000. In the event of a breakdown of this mark, the asset price can drop to $33,000 and below, however, these events should be accompanied by a significant negative news background.

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