This year, 2024, has stood out. BitcoinIn the early part of 2018, BTC reached new record highs. BTC has surged by 3.11 % in the last seven days and is now at $65,000 after a bearish month of August. The asset is now down at $61,587.81 after a weekend rise. This represents a drop of 4% in just 24 hours. Even though Bitcoin has taken a tumble, the outlook for a strong performance in September remains positive.
Bulls believe that since Bitcoin’s all-time peak of $73,000 was reached in March, the next target could be $100,000. Analysts have suggested that BTC may soon surpass the $70,000 level again. Some analysts believe that BTC, the biggest cryptocurrency on earth, will move to a higher level of $100 soon.
Bitcoin must first reclaim the $65,000 barrier on its way towards $100,000. It is possible to achieve this in the near future thanks to cryptocurrency’s growing influence. Crypto currency has been a major topic of conversation among government officials and economists in recent months, as the US presidential election is fast approaching. Donald Trump has been vocal about his support for cryptocurrencies. This is much to bulls’ delight.
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The success of Bitcoin ETFs since they were launched this year has also had a positive impact on the asset. They were the reason that BTC reached its highest level in March of 2024. BTC’s ETFs are still receiving steady inflows despite the introduction of Ethereum ETFs. This indicates that the market is continuing to be interested in BTC.
Expert in Crypto Trading Ali Martinez It is important to note that the closing price of Bitcoin above $65,440 could indicate a positive trend. Martinez claims that the coin could reach a local peak of $86,910 and a clear path to $100,000. This projection is made based on Cumulative Value Days Destroyed alongside other technical indicators.
Changelly’s data shows that Bitcoin should reach an all-time record high by September 1, 2024. Changelly predicts that the coin will reach a peak of $75,264. When Bitcoin reaches this level, it may be seized by bulls who will drive it higher to reach the predicted levels. In the last months of 2024, the price of Bitcoin is not too far off from $100,000.
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Source: watcher.guru
