đđWill Bitcoin Reach ATH? đđ
Although the recent rise in the price of Bitcoin reached a new peak of $73,880 in 2024, this record may not be that striking when compared to the inflation-adjusted value of 2021. While the peak value in 2021 was around $69,000, according to the US inflation calculator, this amount corresponds to about $80,159 in 2024. Therefore, even if the price of Bitcoin reaches $100,000, this nominal value may remain quite low compared to its purchasing power in 2021.
Bitcoin analyst Luke Broyles emphasizes that BTC reaching $100,000 would only approach the peak in 2021 when adjusted for inflation. According to Broyles, reaching this level in nominal terms will not reflect real purchasing power in 2021 due to inflationary effects. In addition, the Bitcoin price is currently about 14% below its previous peak, and analysts expect the price to exceed $80,000 in the short term. However, the price needs to break through a significant resistance level of $65,000. If Bitcoin can make this level support, the long-term downtrend may end and a new uptrend may begin. If the rise continues, the next resistance level is predicted to be $71,500.
Recent analysis shows that the price could rise to $86,000. Bitcoin's price movements point to a rising "megaphone" formation, which means a possible upward breakout.
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