Bitcoin Price Forecast 7/26/2017

GOOD AFTERNOON STEEMIT :) Current MC= $85.8B

In today's chart you can see us slowly selling off into a downward trend. The fresh support levels have been set around $2400 after all of the bad news the past week. There have been major hacks left and right along with scary news about a possible coin split. Alpha-bay got shut down by the Feds, Genesis Mining got hacked, Bitcoin Cash is gaining traction, major exchanges have announced that they wont support a coin split... All of this is very rough news for Bitcoin but it has been holding very strong in the face of the storm.

Judging from the market sentiment and uncertainty we may start testing new lows over the coming days- looking to bottom out around the $2250 mark if we do have a major sell-off. This would give investors a very nice buying opportunity as amateur Bitcoiners will be panic selling if that happens.

All signs point toward a bright future but we have to get past these speed bumps first! Institutional investors are eyeballing Bitcoin prices HARD! They are waiting for the next dip to invest so just beware that it could likely drop again before we see another rally.

Likely Scenarios:

• BTC drops down to $2350 before pulling back to $2450 range
• BTC holds around $2450-2550 mark through tomorrow
• BTC sells off all the way down to $2250 tonight before rebounding to $2400

TLDR Version:
We will be seeing another red day today in recent light of all the bad news. Bitcoin volumes are struggling to pick up momentum as a result of bruised investor confidence. If we see any serious movements it will most likely be down towards the $2250-2350 point. Expect to hover around the $2400-2500 range for most of the day.

Price Target:
$2550

*As always never invest more than you are willing to lose and always do your own research before making any investment decisions.