Pierre, a crypto expert has explained why $69,000 may not be a good investment. significant price level Bitcoin. He said the crypto’s flagship could be a new all-time high (ATH) If the range is successfully held above, then it will be successful.
Bitcoin could recover if it breaks above $69,000
Pierre Mentioned on X post Bitcoin has to break through $69,000 in order for the cryptocurrency tokens range to be retested. ATH region of $73,000. It is also possible that the flagship could hit a brand new ATH if the retest shows a break-out. current ATH region.
Pierre also outlined the steps that Bitcoin must take to prevent a significant decline. The flagship cryptocurrency must not lose its range, he said. between $67,500 and $68,200 Support. He said that Bitcoin could retest the range of $65,000 to $66,500 if it drops below this level.
Crypto analyst Michael van de Poppe Pierre shared the same sentiments as him, though he made a specific mention of the $70,000 level. He stated that BTC is likely to see a higher ATH after it breaks through $70,000. In a recently X postHe claimed that Bitcoin should be above $66,000 to $67,000 in order for it to not fall. “further downward momentum to $60,000.”
Crypto analyst Rekt Capital also suggested that Bitcoin simply needs to break above $70,000 to enter the ‘parabolic uptrend‘ phase. Bitcoin may take some time to reach the $70,000 mark. Arthur Hayes is the former CEO and co-founder of BitMEX. predicted BTC is expected to continue fluctuating between $60 and $70,00 until August.
Van de Poppe predicted that Bitcoin might break the $70,000 barrier in as little time. He predicted Listing the Spot Ethereum Exchange Traded Funds (ETFs) could lead to a major move in Bitcoin and other altcoins. Bloomberg analyst Eric Balchunas Recently, predicted The funds can be activated as soon as July 4, or in the latest, June.
An average weekly close of $69,000 could alter history
Recent studies have shown that the number of people who are able to speak English is increasing. X postRekt Capital stated that weekly closing above the $69,000 range “would alter the course of history.” He said it is unlikely, saying that Bitcoin does not “favor an early breakout.” post-halving.” “The crypto analyst was previously mentioned The following are some examples of how to use “history suggests that this historic breakout is still several weeks away.”
He added, however, that Bitcoin was “just one close weekly above the high of the range away from entering” the mainstream. parabolic phase “The cycle” Rekt Capital has been around for a while. revealed Bitcoin’s new ATH, before the halving cycle began, had accelerated the process. However the main cryptocoin could continue to consolidate longer in order to resynchronize itself with the previous halving cycle.
Featured Image created using Dall.E and chart from Tradingview.com
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com