Prior to the bitcoin Halving event, the btc price experienced considerable instability, but has since recovered, reaching the $66,000 level, prompting bullish predictions from leading crypto analysts regarding the future path of the coin.
Captain Faibik, a cryptocurrency analyst and trader, emerged with an intriguing x.com/CryptoFaibik/status/1782607799559627136″ target=”_blank” rel=”nofollow”>predictionunderscoring a narrative that could potentially drive the price of bitcoin to the coveted $100,000 mark in the coming months.
bitcoin prepares for 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 capitalization is currently making a strong comeback.
These bullish investors, according to Faibik, must reclaim the crucial $72,000 resistance level to see a major rally to the $100,000 price level. This scenario acts as a ray of hope for the cryptocurrency community, generating speculation and influencing projections about bitcoin's future growth potential. Given the anticipated impact of the bitcoin halving and the bulls, the $72,000 level could be reached in the near term.
The expert previously highlighted that bitcoin's weekly candle closed above the 10 exponential moving average (EMA), proving that the bulls are still in charge of the market. Following the breakout of the descending channel in October last year, btc Bulls have firmly secured the weekly EMA10, prompting the crypto analyst to set 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, on the daily chart, a bullish flag is forming and in the event of a bullish breakout of the bullish flag, Faibik anticipates a new all-time high for bitcoin in May.
Is a $1.5 million price level possible for btc?
One of the most bullish predictions for bitcoin this year came from the chief executive officer (CEO) of Ark Invest. cathie wood. The CEO predicts that the digital asset will increase by more than 2000%, reaching a whopping $1.5 million by 2030.
during a bitcoin?r=jbpop&utm_campaign=post&utm_medium=web&triedRedirect=true” target=”_blank” rel=”nofollow”>interview In Hong Kong, Wood reiterated his projections for btc, which were backed by extensive research that included institutional surveys and assessments 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 bitcoin Spot Exchange Traded Funds (ETFs)He now believes the coin has the potential to reach $1.5 million.
Featured image from iStock, chart from Tradingview.com
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