The post What if Bitcoin Price Reaches $30,000? How Will the Crypto Markets React? appeared first on Coinpedia Fintech News
The current consolidation of Bitcoin is nowadays compared largely with the previous consolidations of 2015, 2019, etc. The BTC price soon after the consolidation kick-started a magnificent bull run that mark a new ATH. Although the patterns may repeat, the current scenario appears to be a little more diverse than before.
After withstanding the recent bear market, traders have become more vigilant before investing. Moreover, they appear to be more focused on extracting small profits regardless of the fact that Bitcoin has recorded massive average quarterly gains since its inception into the markets.
Amid the shaky market conditions, the possibility of the BTC price breaking above $25,000 still looms, as the price has faced multiple rejections at these levels, making it more brittle at the moment. Therefore, once the price clinches beyond these levels, a significant upswing may be triggered, marking new highs for 2023.
So, will the Bitcoin price surge beyond $28,000 to reach $30,000? If yes, then how will the popular altcoins react?
It is a known fact that altcoins prefer to follow the star crypto most of the time. Hence, a bitcoin bullish breakout may wake up the altcoins too. A popular YouTuber and a crypto proponent, Sheldon The Sniper, maps targets for the popular altcoins, when the BTC price reaches beyond $30,000.
As per the above prediction, it is quite evident that the crypto markets may rise above the bearish influence to a large extent if the BTC price surges beyond $30,000. Moreover, it also indicates the preparation of the next bull run that may be validated after a bullish close above $30,000 in the first half of 2023.