After six months of sideways movement, Bitcoin has broken out of a downward channel and is now trading above $90,000. The recent rise in bitcoin’s price can be attributed to the election of Donald Trump. The technical indicators are positive, and the outlook for Bitcoin remains bullish. In the short term, a break of the $93,500 resistance could trigger a potential rally to $95,000.
In the long term, based on previous cycles, Bitcoin could reach the $200,000 historical peak in the second half of 2025, while according to bear market estimates, the new low point could be around $60-$62,000 at the beginning of 2027.
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<p>The post Bitcoin Reaches All-Time High: Can the $90,000 Support Last? first appeared on CoinBuzzFeed.</p>
