Bitcoin maintains a strong position as altcoins surge fiercely.
The price of Ripple’s XRP pumped by over 15% taking the price to over $1.
This hike led to XRP Futures Open Interest hitting an ATH.
The price of Bitcoin (BTC) stands steadily at the $91,000 price mark as analysts await another breakthrough for the pioneer cryptocurrency. This breakthrough is expected to take Bitcoin price closer to a 6-digit ATH before it is also expected to break that threshold. Presently, the crypto market is teasing highly bullish gains ahead.
BTC Supply Shock Underway
https://twitter.com/rovercrc/status/1858454351167295782
As we can see from the post above, Bitcoin is experiencing a scenario it has never experienced before. According to the chart in the post above, Bitcoin, for the first time in its history, is exhibiting a drop in BTC present on exchanges during a bull run. This is a sign that this cycle differs from the ones before.
More excitingly, the analyst in the post suggests this to be a bullish signal that will usher in a massive supply shock for Bitcoin (BTC). No doubt, a supply shock will result in a greater pump for the price of Bitcoin. This hints at a possibility of BTC ATH surpassing $100,000 to hit greater highs from $220,000 to $320,000 and more.
Next ATH Targets for BTC Revealed
In response to Bitcoin’s most recent ATH set at $93,434.36, one analyst, known for his many accurate predictions, Doctor Profit, the silver-tongued analyst reveals what he believes to be the next ATH for Bitcoin (BTC) is this ongoing crypto bull cycle. To highlight, he says that the next target for a BTC ATH lies between $96,000 and $98,000.
https://twitter.com/DrProfitCrypto/status/1858627691685310595
Finally, as we can see from the post above, the same silver-tongued analyst suggests traders to not overthink their moves in the coming weeks. In his eyes, BTC will keep it straight and simple. He says to long the line as shown in the post above and to accumulate if the market presents an opportunity.
The post Reputed Silver-Tongued Analyst Reveals Next Bitcoin (BTC) ATH Target Between $96,000 and $98,000 appeared first on Crypto News Land.
