Analyst Says Bitcoin Will Explode Soon: It's Where It Was Exactly A Year Ago!

The cryptocurrency analyst stated that Bitcoin is approaching a critical resistance level and if it exceeds this level, it can quickly reach new records.

Popular analyst Jelle made a remarkable assessment in his post on Twitter on September 23, likening Bitcoin's current performance to the September 2023 period. Jelle stated that Bitcoin is rising with higher lows and is approaching a critical resistance level.

The analyst emphasized that if this level is exceeded, Bitcoin can quickly reach all-time highs:

After exceeding this level, we will reach new records in the blink of an eye. Let's make it happen.

Bitcoin, which exhibited a similar upward movement in September 2023, pushed key levels at that time and exceeded its all-time high (ATH). Currently, the increasing demand and positive developments in the market after the US Federal Reserve's (FED) interest rate cut decision are strengthening the expectation that Bitcoin can reach historic peaks again.

Investors are closely monitoring the breach of this critical level, while bullish expectations in the markets have increased.

According to CoinGecko data, Bitcoin is trading at $63,400 at the time of writing.