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bitcoin (btc) could be preparing for a bitcoin-golden-cross-history/” rel=”nofollow”>New all-time high (ATH) This year, if it breaks key resistance levels at $60,000, analysts expect that, despite having experienced substantial volatility and price instability in recent months, bitcoin-price-prediction-65000-by-the-end-of-the-week/” rel=”nofollow”>express bullish optimism for cryptocurrency in the coming months.
A new bitcoin all-time high is approaching
The bitcoin price chart is showing bullish signs as the cryptocurrency has again broken above $60,000. Earlier this month, bitcoin–btc-blast-past-60k-unleashing-massive-buy-altcoin-orders-from-crypto-whales/” rel=”nofollow”>bitcoin surpassed the $60,000 mark but witnessed a minor correction that pushed its price below $59,000.
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With the cryptocurrency regaining its former momentum, many analysts expect further gains ahead. On an x (formerly twitter) x.com/cryptomichnl/status/1836078654255747199?s=46″ rel=”nofollow”>mail On September 17, popular cryptocurrency analyst Michael van de Poppe suggested that as long as bitcoin can maintain a stable price above $58,500, the market will remain strong and positive, indicating the possible bitcoin-past-cycles-bull-market/” rel=”nofollow”>beginning of the bull market.
According to his price chart of bitcoin movements, the $58,500 price point is considered a critical support area to hold and Poppe has predicted that if bitcoin continues to trade above this level, it could experience a massive surge. bitcoin-set-to-surge-to-new-all-time-high/” rel=”nofollow”>Gas to hit new record highs in October 2024This significant price increase is expected to exceed bitcoin's current ATHwhich exceeded $73,000 in March 2024.
At that time, the trigger for bitcoin to reach its March ATH was the bitcoin-etfs-approved-by-us-sec/” rel=”nofollow”>bitcoin Spot ETF Launched and the resulting large-scale demand. This time around, btc is expected to hit a new ATH, catalyzed by a confluence of factors, including the fact that the fourth quarter of all bitcoin-halving-2024-complete-what-expect/” rel=”nofollow”>bitcoin price halving The years are typically x.com/quintenfrancois/status/1835237372784758972?s=46″ rel=”nofollow”>seen as a bullish period for the cryptocurrency.
Before this attack on the ATH in October, Poppe x.com/cryptomichnl/status/1835000563224002872?s=46″ rel=”nofollow”>revealed that bitcoin may experience a “liquidity sweep” as well as a brief period of consolidation. The analyst highlighted that bitcoin-september-blues-will-the-top-crypto-defy-historical-downtrends/” rel=”nofollow”>September remains a significantly weak month For bitcoin, characterized by bitcoin-price-drops-with-fed-rate-cuts-on-the-horizon-calm-before-the-storm/” rel=”nofollow”>price drop and volatility.
However, he has predicted that btc could see a clear upside break above $62,000 by the end of the month or early October. At the time of writing, bitcoin is trading at $60,471, marking a 3.76% price increase over the past 24 hours, according to CoinMarketCap.
The next three months are considered a bullish period for btc
bitcoin has been in a long downtrend, and the third quarter is considered one of its most bearish periods this year. Despite the Cryptocurrency price drop and previous persistent declines, according to analysts. x.com/incomesharks/status/1836153675871592577?s=46″ rel=”nofollow”>stand out that the next few months will be significantly bullish for the cryptocurrency.
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Cryptocurrency Analyst, crypto Rover x.com/rovercrc/status/1834170337400963535?s=46″ rel=”nofollow”>revealed In x, September has historically been the worst month for bitcoin, however, he believes that bitcoin-destined-for-a-2016-style-breakout-chart/” rel=”nofollow”>The fourth quarter will be the best.
Other analysts like 'Stockmoney Lizards' x.com/stockmoneyl/status/1836072018883621169?s=46″ rel=”nofollow”>foresee bitcoin is set to hit a massive $100,000 price target by the end of the year, with expectations that the fourth quarter (October-December) will significantly push the cryptocurrency higher.
Featured image created with Dall.E, chart from Tradingview.com
