Analysts Identify Key Scenario For Bitcoin Hitting $100,000

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,799,406,374	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,799,406,374

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000028	-0.02%	0.122682	0.12266	0.122692

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000028

-0.02%

0.122682

0.12266

0.122692

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.122868	0.122487	0.12271	0.12271	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.122868

0.122487

0.12271

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	07:54:53	204.05	0.122682	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

07:54:53

204.05

0.122682

USD

Price x Volume	Volume	Base Symbol	Related Pairs
41,007.70	334,241.15	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

41,007.70

334,241.15

Analysts Identify Key Scenario For Bitcoin Hitting $100,000

24/04/2024 3:30pm

NEWSBTC

Prior to the Bitcoin Halving event, BTC’s price saw considerable instability, but it has since rebounded, reaching the $66,000 level, triggering bullish predictions from top crypto analysts regarding the coin’s future path. Captain Faibik, a crytocurrency analyst and trader, has emerged with an intriguing prediction, underscoring a narrative that could potentially propel the price of Bitcoin to the coveted $100,000 mark in the upcoming months. Bitcoin Poised For A Notable Rally To $100,000 According to Captain Faibik, Bitcoin has managed to hold the $60,000 support level in the wake of bullish investors in the market. As a result, the largest crypto asset by market cap is currently making a strong comeback. Related Reading: Is The Bitcoin Bloodbath Over? Analysts Say $60,000 Is The Cycle’s Bottom These bullish investors, according to Faibik must reclaim the crucial $72,000 resistance level in order to see a major rally to the $100,000 price level. This scenario acts as a ray of hope for the cryptocurrency community, igniting speculations and influencing projections about Bitcoin’s potential for future growth. Given the anticipated impact of the Bitcoin Halving and bulls, the $72,000 level could be realized in the short term. The expert previously highlighted that the Bitcoin weekly candle closed above the Exponential Moving Average (EMA) 10, demonstrating that the bulls are still very much in charge of the market. Following the Descending Channel break out in October last year, BTC Bulls has firmly secured the weekly EMA10, prompting the crypto analyst to put his next price target for the digital asset at $100,000. Faibik also noted that the daily Relative Strength Index (RSI) for Bitcoin has emerged from a falling wedge pattern. This breakout suggests that a 15% to 20% bullish rally in Bitcoin’s value is on the horizon. Meanwhile, in the daily timeframe, a bullish flag formation is underway, and in the event of an upward breakout from the bullish flag, Faibik anticipates a new all-time high for Bitcoin by May. Is A $1.5 million Price Level Possible For BTC? One of the most bullish predictions for Bitcoin this year came from Ark Invest Chief Executive Officer (CEO) Cathie Wood. The CEO foresees the digital asset to rise by over 2,000% reaching a whopping $1.5 million by 2030. Related Reading: ARK Invest Pivots To Bitcoin As Cathie Wood Expects BTC Price To Explode During an interview in Hong Kong, Wood reiterated her projections for BTC, which were supported by a thorough investigation that included institution surveys and evaluations of market volatility. She stated: I have been asked this question from different angles, and our analysis from multiple perspectives indicates that by 2030, Bitcoin could rise to $1.5 million. This price prediction is based on a survey of institutions, using a discount rate and volatility analysis. Initially, Wood’s forecast for Bitcoin was estimated at $600,000 in the next six years. However, considering the effect of the Bitcoin Spot Exchange-Traded Funds (ETFs), she now believes the coin has the potential to hit $1.5 million. Featured image from iStock, chart from Tradingview.com

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