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The second day of the week remains in the same mood of instability for Bitcoin. While the asset may fluctuate positively or negatively, more optimistic forecasts point that the asset could reach $ 11,600. For this, it is necessary that the currency remains in the five digits and can reverse the falling scenario. At the moment, however, the outlook is still quite uncertain. In this way, the next few hours will be decisive for the future of BTC.

Bitcoin this Tuesday
In recent hours, the asset has continued to lose its values. However, Bitcoin is still around $ 10,200, and if you continue at this level the outlook indicates that there may be a new high in a short time. In preparation for transactions with cryptocurrency, Bakkt announced on Twitter a $ 125 million insurance for the amount of BTC it has stored. Naturally, this impacted the price of the asset.

Both the market and analysts are waiting to see how cryptocurrency will behave over the month. However, due to its recent losses, its key resistance value has decreased significantly from $ 10,900 to $ 10,329. According to experts, if Bitcoin manages to overcome this initial barrier, it is likely that its prices will be boosted to around $ 11,600.

Prospects for a positive picture ahead
Although the market and analysts are expecting both high and significant declines for Bitcoin, the valuation picture looks more palpable. Depending on the behavior of the cryptocurrency, it may escalate in a short time. After exceeding the key value, the next point for the asset is $ 10,436. If this is confirmed, expectations are for progression to $ 10,864, 10,970, 11,078 and $ 11,612.

In case the BTC is not strong enough to reach these values, it is expected that there will be a drop that puts it below five digits. Some experts believe that before reaching significant figures later this month, the asset should fall below $ 9,000. The good news is that, at least for the moment, this hypothesis is not yet so concrete.

Keeping an eye on Bitcoin's situation
Despite falling close to 2%, the asset remains steady at above $ 10,200. The next few hours will be of great importance to the market as they will set the trend for Bitcoin behavior. Therefore, the expectation throughout this Tuesday is very high, both by investors and analysts.

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