{"id":175348,"date":"2023-05-11T19:31:33","date_gmt":"2023-05-11T19:31:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175348"},"modified":"2023-05-11T19:31:33","modified_gmt":"2023-05-11T19:31:33","slug":"bitcoin-predicted-to-reach-24753-by-end-of-may-according-to-historically-reliable-survey","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-predicted-to-reach-24753-by-end-of-may-according-to-historically-reliable-survey\/","title":{"rendered":"Bitcoin Predicted to Reach $24,753 by End of May, According to Historically Reliable Survey"},"content":{"rendered":"<p>Bitcoin\u2019s recent slip below $28,000 has investors on their toes, with many questioning where the world\u2019s leading digital asset will land as we approach the end of May.<\/p>\n<p>According to a recent article published by Finbold on Wednesday (10 May 2023), after opening May over the $29,000 mark, Bitcoin\u2019s price slid, struggling to maintain around $27,500. This downward trend has left investors uncertain about the cryptocurrency\u2019s future as it grapples with vital resistance levels.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2023\/05\/BTCUSD_2023-05-11_18-21-01-1-1280x533.png\"><\/p>\n<p>Finbold refers to a CoinMarketCap survey in which 9,765 members, boasting an 82% historical accuracy rate, predict a significant drop in Bitcoin\u2019s price by the end of May. If this forecast holds, Bitcoin\u2019s price could average $24,753 by May 31, representing a decline of -10.35% or -$2,857 from the price at the time of writing.<\/p>\n<p>Bitcoin currently trades at $27,192, with a 5.94% decline over the past week. Despite the dip, Bitcoin\u2019s market capitalization remains substantial at $527 billion, underlining its dominance in the cryptocurrency market.<\/p>\n<p>Finbold also highlights IntoTheBlock\u2019s visual representation of Bitcoin purchases at specific price levels, revealing increased buying activity near the $30,000 mark. However, the analysis also points out a lack of robust buying support below the current price level until approximately $24,000.<\/p>\n<p>Moreover, Finbold reports a decrease in the percentage of Bitcoin holders currently in profit, now at 62%. Finbold also points out that despite the dip, similar drops have occurred earlier this year and have proven short-lived due to increased buying pressure, suggesting that Bitcoin\u2019s current state may yet see a turnaround.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2023\/05\/Screenshot-2023-05-11-at-18.15.38.png\"><br \/>\nSource: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2023\/05\/bitcoin-predicted-to-reach-24753-by-end-of-may-according-to-historically-reliable-survey\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s recent slip below $28,000 has investors<\/p>\n","protected":false},"author":3,"featured_media":175347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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