Bitcoin Price Analysis Мay 2021 | A Fresh Flow Of Bitcoin Buyers?

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Here is our video about Bitcoin price analysis May 2021. Bitcoin price USD rallied to an all time high at $64,829 earlier this month, but then it plunged around 27% to $47,105 levels. Last week was also a weak performance for the cryptocurrency - it fell almost 20% on some profit taking after all cryptos got a boost on the direct listing of Coinbase.

Bitcoin price analysis shows the crypto took a hit after the announcement that President Biden proposed a tax on capital gains. The market is worrying how new policies of the US government towards taxing wealthy Americans might affect the Bitcoin price May.

Some Bitcoin price news also came out that a major power outage in China might have contributed to the plunge last week. The power cut happened in the Chinese region of Xinjiang - home to nearly a quarter of bitcoin’s global miners so Bitcoin price May 2021 could be affected if the outages there continue.

Bitcoin price prediction May also shows Bitcoin May is testing a bullish trendline that started on December 11th. It broke below on April 22nd but now the bounce is testing the trendline, acting as a resistance at the moment. A breach would open the door for recent all time high and above.

Watch the full video for our take on the Bitcoin price forecast May and a deeper insight into what to expect in the weeks ahead from our Bitcoin price prediction. Drop us a line in the comments with your thoughts on our Bitcoin price forecast. To be notified about the latest Bitcoin price target and news, subscribe to Capital.com, and click that notification bell.

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