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BTC price to $150K? Bitcoin Price to $150K?

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Quantum computers could bring lost Bitcoin back to life: Here’s
Quantum computers could bring lost Bitcoin back to life: Here’s

The key take-aways

  • Bitcoin is trading above its short-term holders cost basis of $114,000, which indicates a recovery in demand.

  • Bitcoin analysts believe that the price of bitcoin could rise to $150,000.

BitcoinBTCPrice reclaimed $115,000 on Monday and recovered some losses. Friday’s historic sell-offThis resulted over 20 billion dollars in liquidations of the centralized exchange.

Bitcoin’s technicals were affected by the 10%-15% drop in price, but traders maintained that Bitcoin’s macroeconomic outlook was bullish. They said $150,000 is still possible.

Bitcoin recovers over key trendline

BTC/USD traded 8% higher than the low price of $107 500 reached last Friday. Cointelegraph Markets Pro The following are some examples of how to get started: TradingView. 

BTC has recovered above its STH cost base, which suggests that it could be able to achieve higher gains.

Related: $120K or end of the bull market? 5 things to know in Bitcoin this week

The STH realized price or cost basis represents the average BTC acquisition price for those investors who hold Bitcoin less than 155 day.

“BTC back above the STH cost basis of $114K,” said Frank Fetter, quant analyst with investment firm Vibes Capital Management.

“The show goes on.”

Bitcoin short-term holders cost basis. Glassnode Source

Trendline for STH Cost Basis acts as support Investors gain confidence by claiming their BTC/USD pairs during Bitcoin bull markets corrections.

Glassnode provides additional data highlighted that the cost basis of the one-week-to-one-month holders has crossed back above the one-month-to-three-month cost basis, signaling a rising momentum in demand and net capital inflows, as traders bought the dip.

Bitcoin Price by Age Source: Glassnode

Bitcoins’ uptrend is still intact

Bitcoin’s latest flash crash below $110,000 The rally was brief as traders confirmed that BTC’s upside potential was still not complete.

“The crucial factor is that Bitcoin holds the support above the 20-Week MA” Currently at $113.300 said MN Capital founder Michael van de Poppe in an X post on Sunday.  

Van de Poppe said that the Friday drop was below this level “provided a massive opportunity” For buyers and reclaiming indicated “we are continuing the uptrend.”

Mikybull cryptocurrency echos these sentiments said Bitcoin “is still in bullish territory from a price action structural perspective,” adding:

“As long as $BTC and $ETH are still looking great on the HTF charts, the bullish vibe continues.”

Daan Crypto Trades said It is “base case for this cycle has always been $120K-$150K.”

Analysts have said that Bitcoin is currently a very volatile currency. “light green/yellowish region ($140K-$200K)” Once the price has reached these levels, it would be wise to begin scaling back more. 

Bitcoin price graph indicator. Source: Daan Crypto Trades

Crypto Analyst Jelle said Bitcoin experienced a resurgence in the last few years. “2017-style washout” But still hold key levels.

“I don’t really mind the way this looks. The target remains $150,000.”

The following are some of the ways to get in touch with us. Cointelegraph reportedBitcoin is testing the “golden cross,” A bullish pattern has preceded historically rallies that have risen 2,200% in 2017, and 1,190% by 2020. Bitcoin’s value could skyrocket in coming weeks if the breakout pattern is confirmed.

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.