PlanB, a crypto analyst has revealed why. the Bitcoin price It is possible that the price of bitcoin will never fall below $100,000. The market is speculating whether or not the crypto’s flagship could ever fall below that psychological level in the event of a full-blown bull market.
Bitcoin price has likely turned $100,000 into support
PlanB is stated as an X post He will not be shocked if Bitcoin’s price doesn’t drop below $100,000 as market observers the $100,000 resistance turn into $100,000 support. Analyst noted further that September was the fifth consecutive month that the close exceeded that psychological level.
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PlanB said that it happened the same way when Bitcoin was priced at $10, $1000, $100 and $10. Analyst’s comments came at the same time he reported that 63% people believe that Bitcoin will fall below $100,000. There were many calls for Bitcoin to drop below $100k towards the end September, when BTC fell as low as $108,000. Ansem is a cryptocurrency influencer who was among the people to predict that Bitcoin would fall below $100,000. flagship crypto would likely retest $90,000.
Bitcoin has made a stunning comeback since the lows of $108,000, rising to new heights. all-time high (ATH) Above $126,000 at the start of the month. BTC’s performance is up by 7% at the start of October, making it the second most successful month in history for BTC, behind November.
The Bitcoin price is now trading above the psychological $100,000 level and above it for more than 150 days. This has been its longest run. Market participants currently bet that this will probably continue. According to Polymarket dataOnly 25% of BTC could drop below $100 by the year’s end.
BTC Bull Market Still On
Crypto analyst Titan of Crypto declared It was noted by the analyst that crypto is not over and wondered why the participants of the market are so quick to predict the peak. The analyst stated that there are many factors to consider. Stoch Relative Strength Index (RSI) Strength and crossovers are always aligned. He said that the chart will show them when bull runs are over. But for now that isn’t the case.
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The following are some of the ways to get in touch with us another analysisTitan of Crypto reported that Bitcoin continues to record higher highs as well as higher lows. He suggested that BTC might reach $160,000 before the end of this year. The trend is similar to predictions by JPMorgan Standard Chartered predicts that BTC will reach 165,000 dollars and 200 thousand dollars by the end of this year.
According to the latest data, Bitcoin is currently trading for around $122,000. This represents a rise of over $12,000 in just the past 24 hours. data CoinMarketCap.
Chart by Tradingview.com. Image from Pixabay.
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Source: www.newsbtc.com
