Bitcoin Can Reach $140,000 After This Rare Signal Prints: Analyst
2024年4月9日 - 4:00AM
NEWSBTC
Bitcoin may be hovering below its all-time highs, but analysts are
turning bullish based on a rare chart formation. Taking to X, the
analyst observed that BTC has closed two consecutive months above
the upper Bollinger Band on the monthly chart. A Rare
Bollinger Band Signal Prints: BTC To $140,000? The
analyst said that historically, when Bitcoin closes two
consecutive months above the upper Bollinger Band on the monthly
chart, prices tend to double within three months. If this pattern
holds, Bitcoin will surge to over $140,000 by July 2024, just three
months after the Bitcoin halving event. Related Reading: Forget
Bitcoin! Altcoins Set For Explosive Growth With Potential 1,000x
Returns — Analyst Bitcoin is trading below $73,800, the all-time
high registered in March 2024. However, after weeks of lower lows,
the sharp recovery earlier on April 8 suggests buyers could be
flowing back. At press time, the coin is changing hands above
$71,800, convincingly breaking above the liquidation level of
around $72,000. Despite the bullish breakout, whether the
uptrend continues remains to be seen. Of note is that BTC prices
tend to collapse before the Halving, which is set to take place in
the coming weeks, dumping to as low as 20%. BTC fell after peaking
at $73,800, dropping to around the $60,000 level before snapping
back higher to current levels. A refreshing close above $74,000
might form the basis of even more gains in the days ahead, perhaps
towards $100,000 in the weeks ahead. Another
analyst suggests that Bitcoin could rally to $140,000
within four weeks, especially if it follows a similar price pattern
to December 2020. After breaking above the $20,000 high of 2017,
Bitcoin continued to rally, peaking at around $70,000 for a nearly
3X surge. Currently, buyers are eyeing the $74,000 mark and the
all-time high. If this level is surpassed, as it was in late 2020,
the possibility of Bitcoin at least doubling to $140,000 becomes
more likely. Will Halving, Macroeconomic Factors, And Spot ETFs
Drive Prices? The current bullish sentiment might continue.
Possible drivers include interest in spot Bitcoin exchange-traded
funds (ETFs). So far, billions have been channeled to these
products, lifting demand and thus prices. The upcoming Halving
event could further buoy demand, lifting prices even higher in the
coming months. Related Reading: Ripple CEO Makes Bold
Prediction For Crypto Market – $5 Trillion In 2024 Beyond
Bitcoin-driven fundamentals, analysts are also looking at market
events, especially in the United States. Some speculate that the
United States Federal Reserve (Fed) might not slash interest by at
least three times this year as labor conditions become firm and
inflation slows down. If the Fed reduces interest rates, reversing
their hawkish outlook, BTC could lead other safe havens in an
uptrend. Feature image from DALLE, chart from TradingView
Ripple (COIN:XRPUSD)
過去 株価チャート
から 9 2024 まで 10 2024
Ripple (COIN:XRPUSD)
過去 株価チャート
から 10 2023 まで 10 2024