đ Bitcoin Breaks $90K: âThis Is Just the Beginning,â Say Analysts
For the first time, Bitcoin shattered the $90,000 barrier, marking a new all-time high. Traders and analysts alike are buzzing with optimism, viewing this price spike as just the start of a potential new era in crypto.
Crypto analyst Tuur Demeester emphasized a âno-rash-actionsâ approach, encouraging long-term holders to stay steady, as Bitcoinâs historic rise appears to be unfolding without signs of a bubble. Fellow analyst James Check (âCheckmateyâ) noted that the price is still not overly extended from its 200-Day Moving Average, a signal that the rally could have room to run.
Other influencers in the space, like Invest Answers and Rain, chimed in with their own excitement, reinforcing the sentiment that âweâre just taking offâ and âwe are so back.â
Whatâs unique about this rally? According to pseudonymous trader Cantonese Cat, this surge wasnât fueled by high-risk leveraged positions. Instead, the rise might be due to a âpure spot supply shockâ with intense demand driving up the price organically.
Bitwise CEO Hunter Horsley adds an important psychological factor: as Bitcoinâs price climbs, public confidence tends to grow, creating a self-fulfilling cycle of increased perceived value and higher prices. With $90K now in the rearview mirror, some speculate we could be seeing the groundwork for Bitcoinâs next major bull phase.
Could this be the start of Bitcoinâs journey to $100K and beyond?
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