Analyst Says Bitcoin Price Is Headed To $90,000, Here’s Why
2024年5月5日 - 5:00AM
NEWSBTC
Bitcoin is now at a critical junction, which many determine its
price trajectory for the rest of the year. The crypto has managed
to return into $60,000 territory after dropping down to $56,000 for
the first time since April. Some analysts are of the notion that
the Bitcoin bulls haven’t actually started on their momentum yet,
with many expecting a surge above $74,000 in the coming
weeks. According to a crypto analyst, impulse waves formed by
Bitcoin over the past 1.5 years are indicating that the price of
Bitcoin will soon jump to between $90,000 and $100,000.
Bitcoin To $90,000 A crypto analyst known pseudonymously as TechDev
recently shared a Bitcoin price outlook on social media platform X
with over 448,000 followers. Interestingly, his analysis is based
on Elliot impulse waves, a technical analysis tool that has become
extremely popular among crypto analysts when forecasting Bitcoin’s
price. Related Reading: Crypto Prediction Website Reveals
When The Cardano Price Will Reach $45 According to the BTC/US
Dollar 2D timeframe shared by the analyst, Bitcoin has been forming
impulse waves on an uptrend since May 2023. The chart indicated
that the recent correction since Bitcoin reached an all-time high
of $73,780 is the fourth impulse wave formation, which is generally
known to be a corrective wave. Interestingly, the asset is now at a
critical junction after bouncing up at $56,800. As noted by
the analyst, Bitcoin is set to form its fifth (bullish) impulse
wave and go parabolic in the coming months. The first price target
is around $90,000 to $100,000 in the short term. The second price
target is around the projected peak of the fifth impulse wave,
which sits just below $150,000. TechDev’s analysis is based on a
similar five-impulse wave formation in the 2020 to 2021 bull market
cycle. A similar fourth impulse wave correction during this period
saw Bitcoin falling from $41,000 to $29,000 in early 2021. However,
a rebound led to the formation of a fifth (bullish) impulse wave,
pushing the price of Bitcoin to its former all-time high. The
impulsive structure of the last 1.5 years says 90-100K is next.
$BTC pic.twitter.com/jboA0rQ3Qs — TechDev (@TechDev_52) May 3, 2024
What’s Next For Bitcoin Price? At the time of writing, Bitcoin is
trading at $63,275 and up by 6% in the past 24 hours. Since the
launch of Spot Bitcoin ETFs in the US, Grayscale’s GBTC recorded
its first day of inflow, totaling $63 million on May 3. Investors
are hopeful and speculating how this might kickstart a new bull run
for the cryptocurrency. Related Reading: Fantom Revival: Crypto
Analyst Predicts A Jump To $1.2 For FTM Price According to an
analyst, Bitcoin has successfully defended a correction below the
21-day exponential moving average (EMA). The next step is crossing
above resistance around $63,488. BTC bulls push price toward
$64,000 | Source: BTCUSD on Tradingview.com Featured image from The
TechBullion, chart from Tradingview.com
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 4 2024 まで 5 2024
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 5 2023 まで 5 2024