What to Expect if Bitcoin gets to $27,000

At this critical support level if attained, since the price of Bitcoin is almost getting closer to its 52 weeks low price of $28, 893.62 according to CoinMarketCap, the following could be the outcome:

Increased selling pressure

There is extreme fear in the market due to the position of retail investors that are already losing some parts of their gain or agents. Some investors are looking to see what would be obtained. However, if the Bitcoin price falls below its present 52 weeks low price, there is a very strong chances that the selling pressure will be increased. This will cause the price of Bitcoin to fall below the $27,000 price and plummet further.

Increased buying pressure

Institutional investors and Bitcoin whales might move in to save the market by introducing more funds. This will directly reverse the trend since sellers will start to sell at a higher price due to the presence of buyers that are willing to buy at a higher price. However, the chances for this to happen might be low, since most investors and whales are working towards acquiring more coins at a reduced price: since over 90% of its total supply had been mined.

Consolidation

At about $27,000 key level, the market might consolidate between it and $34,000 for some duration, before any major move in either direction would be attained. This will give traders and analyst the opportunity to study the trend carefully before making their next major investment decision.

In conclusion, only long-term investors could be saved from the thought of the market directions since most future forecasts for Bitcoin are highly bullish.