Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December

Name	Symbol	Market	Market Cap ($)	Algorithm
Optimism	OPUSD	Crypto	1,388,198,924	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Optimism

OPUSD

Crypto

1,388,198,924

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.020	-1.36%	1.45	1.45	1.45

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.020

-1.36%

1.45

High Price	Low Price	Open Price	Prev. Close	52 Week Range
1.50	1.43	1.47	1.47	1.06 - 4.86

High Price

Low Price

Open Price

Prev. Close

52 Week Range

1.50

1.43

1.47

1.06 - 4.86

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:45:54	2.42	1.45	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:45:54

2.42

1.45

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,026,846.65	702,283.06	OP	OPEUR	OPGBP	OPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,026,846.65

702,283.06

OPEUR

OPGBP

OPBTC

Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December

15/09/2024 6:00pm

NEWSBTC

Bitcoin has once again surged past the critical $60,000 threshold, signaling a potential shift in market sentiment as selling pressure appears to be subsiding. This development follows a period of volatility, where Bitcoin experienced a significant dip, but data from CoinMarketCap now shows that the cryptocurrency has made a remarkable 15% rebound. Related Reading: Shiba Inu Seen Exploding 1,000%-7,300%: Bold Predictions Signal Massive Growth Bitcoin hit a low of $52,590 on September 6, which triggered widespread concern among traders and investors. However, the recent recovery has helped alleviate the extreme fear gripping the crypto market, restoring some confidence among market participants. In a recent analysis, Captain Faibik noted that Bitcoin’s break above $60,000 is crucial to its goal of reaching $90,000 before the end of the year. Analyst Predicts Bitcoin Surge The significance of this rebound cannot be overstated, especially given the waning optimism among many crypto analysts. This is because many analysts had begun to reconsider their earlier bullish predictions, with some even suggesting that Bitcoin might face additional downward pressure in the coming weeks. One analyst who has remained firmly bullish throughout this period is Captain Faibik, who has consistently emphasized the importance of the $60,000 level in Bitcoin’s price action. In a recent technical analysis shared on the social media platform X, Captain Faibik emphasized that a daily close above the $60,000 mark would be a key signal of Bitcoin’s return to bullish momentum. According to Faibik, this close would mark the first step in a broader upward trend expected to unfold throughout September, potentially setting the stage for Bitcoin to reach $68,000 by the end of the month. To further support his bullish outlook, Captain Faibik shared an accompanying chart, which shows that Bitcoin’s price action has been unfolding within a broadening wedge pattern since reaching its all-time high in March. Faibik noted that he is expecting a bullish breakout above this wedge in the fourth quarter of 2024. Based on his analysis, he anticipates that Bitcoin will rally toward a price target of between $88,000 and $90,000 before the end of December. What’s Going On With Bitcoin? Bitcoin’s recent surge comes amid expectations that the US Federal Reserve will implement a 50 basis point cut in interest rates for the first time in two years. Interestingly, business intelligence company MicroStrategy also contributed to the buying pressure by purchasing an additional 18,300 BTC for $1.1 billion. Related Reading: Ripple Moves 150 Million XRP, Fueling An 11% Price Surge At the time of writing, Bitcoin is trading at $60,200. In a similar analysis, Rekt Capital underscored the significance of the $60,000 level. He pointed out that the 21-week exponential moving average (EMA) is currently positioned at $60,550. Should Bitcoin bulls manage to turn this EMA into a support level, it could provide the necessary momentum to break above a series of lower highs that have been forming since July. Featured image from Pexels, chart from TradingView

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

OPUSD Optimism