Crypto analyst Tony Severino Has provided some interesting insights on the Bitcoin price movement. He stated that Bitcoin has surpassed $105,400.
What will happen to the Bitcoin price as it moves above $105,400 in its upper band?
Then, you can also find out more about the following: X postSeverino announced that Bitcoin’s upper range is now over $105,400. In this new development, Severino alluded back to his previous analysis where he explained what would happen if the price broke above $105,400. The analyst noted that it could be interesting when the price of bitcoin reaches $105,400. BTC breaks above $105,400.
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He predicted the future. Bitcoin could rally The analyst predicted that BTC could reach as high as $170,000. Analyst made prediction after describing how BTC saw a surge of 90% from the wick-low at lower band to local high. It happened last time when the flagship crypto had a false start to lower band, before moving up to upper band.
Severino predicts that Bitcoin’s price will continue its upward trend and could reach $170,000. The price is important because it may mark the peak for Bitcoin. The analyst said that this was the cycle top Bitcoin is only going to be worth $170,000 when BTC hits this target.
Standard Chartered, however, has suggested that Bitcoin may rally above this $170,000 goal. Financial institution forecast that bitcoin would reach $170,000. rally to $200,000 By the end of this year, it is possible. Analysts at Bernstein also said that a rise to $200,000 before year’s end was conservative. This means Bitcoin may rally even higher.
Donald Trump’s upcoming inauguration on January 20, 2019, is the main reason for this positive outlook. President-elect Donald Trump, who is pro-crypto in the US, will likely implement a Strategic Bitcoin Reserve to boost adoption of the leading crypto.
BTC not far away from new record high
Crypto analyst Rekt Capital Bitcoin may soon hit a new record high. In an X message, he said that BTC only needs to break through one more daily resistance before it can reach a brand new ATH. Crypto analyst said that BTC would only need to close the day above the last resistance, followed by the retest after the breakout.
Rekt Capital stated that Bitcoin will continue to fluctuate between $101,000-$106,000 until then. Crypto analyst Titan of Crypto He gave a positive outlook on the BTC and said that it has begun its rise. He said, that as expected, the crypto had broken through resistance, and was now ready for a powerful rally.
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Bitcoin’s price was around $103,509 at the time this article was written, an increase of about $2,509 in the last day, according to data CoinMarketCap.
Featured image is from Pexels and chart by TradingView
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Source: www.newsbtc.com
