Bitcoin (BTC), the cryptocurrency, could be in for a big year. new All-Time High (ATH) If it manages to break through the key resistance level of $60,000. Analysts say that despite the price volatility, which has been significant over the last few months. express bullish optimism For the crypto in the coming months.
The new Bitcoin all-time high is coming
Bitcoin is once again above $60,000 on the Bitcoin chart, a bullish sign. In the beginning of this month, Bitcoin jumped over the $60,000 mark A minor price correction pushed the car’s value back down to $59,000.
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Analysts expect the crypto to continue its upward trend. In an X, formerly Twitter post Michael van de Poppe, a popular cryptocurrency analyst, suggested on September 17 that the market would remain positive and strong as long as Bitcoin could maintain a price of $58,500 or higher. This signaled the possibility start of the bull market.
Poppe, based on the price chart of Bitcoin, has stated that the $58,500 level is a key support to maintain. If Bitcoin trades above this mark, it will experience massive price increases. pump to new all-time highs in October 2024. The price rise is likely to exceed Bitcoin’s current ATHIn March 2024, the price of rose above $73,000.
The trigger for Bitcoin’s March high was the launch of Spot Bitcoin ETFs The subsequent demand for large quantities of BTC. The confluence factors that have led to the current BTC ATH are expected to be a catalyst for a higher ATH this time. Bitcoin halving Years is commonly a number. seen This is a time of growth for the crypto currency.
Poppe had been a Poppe fan since the early 1990s. revealed Bitcoin is a cryptocurrency that may be experiencing a “sweep of the liquidity” We can expect a period of short consolidation, as well. Analyst emphasised that September remains a significantly weak month Bitcoin is a cryptocurrency that can be described as price declines Volatility is a key factor.
According to his forecast, BTC may see a break-out upwards above $62,000 before the end or beginning of October. According to CoinMarketCap, Bitcoin currently trades at $60,471, a price rise of 3.76% in the past 24 hours.
Next Three Months Seen As Bullish Period For BTC
Bitcoin is on a downward trend, with the third quarter of this year being one of its worst periods. Although the cryptocurrency’s price crash Despite the persistent drop in prices, analysts are predicting a rise. highlight Cryptocurrency will experience a significant bullish trend in the next few months.
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Crypto Analyst, Crypto Rover disclosed On X, he said that historically, September is the most difficult month for Bitcoin. However, he does not believe this. Q4 is set to be the best.
Other analysts like ‘Stockmoney Lizards’ foresee Bitcoin could reach a price of $100,000 by the end of the year, and it is expected that the Q4 period (between October and December) will be a significant boost to cryptocurrency’s value.
Featured Image created using Dall.E and chart from Tradingview.com
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Source: www.newsbtc.com