According to a report by a senai (teacher) or cryptocurrency expert, bitcoin is only 24% away from reaching a new all-time high in the current so-called bull cycle. Thus, the cryptocurrency is aiming to break its record high of March, when the price exceeded $73,000.
An analyst at Web resource X is actively supporting #bitcoin , urging investors to keep their crypto assets for the sake of a possible future bull run in value. He suggests that the biggest bull move will begin after bitcoin penetrates the $70,000-$78,000 barrier. The analyst cited August 2024 as a possible date for such an event. While $72,000 may be a temporary target for bitcoin, Teachout is still optimistic about the cryptocurrency's long-term prospects, predicting a significant rise to $BTC Bitcoin did not escape the slump, falling below $60,000 according to CoinMarketCap. At the time of writing, bitcoin was trading at $58,773, having experienced a significant decline of 4.11% over the past 24 hours. However, many analysts remain positive on bitcoin's price performance, predicting big uptrends once the market downturn subsides.
The well-known crypto analyst Michael van der Poppe expects a major bullish breakout after a period of consolidation. Addressing this issue, the analyst also notes that the market may be preparing for a major bitcoin rally that could push its value above $BTC Thus, although bitcoin is facing some instability and correction in the market, many experts remain optimistic about the long-term prospects and continue to monitor developments, looking for signs of an impending price recovery and the start of new bulls.
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