Bitcoin rallies to $62,000 after a short dip below $60,000.
Silver-tongued analyst expects $64,000 price to be reclaimed soon.
After which rally to $80,000 BTC price high will occur faster than expected.
Bitcoin breaks through the $60,000 price range and rallies to the $62,000 price range. Popular silver-tongued crypto analyst, Doctor Profit, expects Bitcoin to hit the next target price soon which will likely be a trend high of $64,000. He also goes on to list multiple factors that point to the fact that the bull run is just beginning.
$62,000 Reclaimed, BTC Heads to $64,000
Just recently, two analysts called that BTC price would dip to the $57,000-$58,000 price range. Bitcoin did dip to a price range close to these numbers and has since rallied quickly to reclaim the $62,000 price range. The asset is expected to hit $64,000 next according to these same crypto analysts.
Doctor Profit then goes on to state the same reasons behind a massive Bitcoin rally ahead. Firstly, he marks the connection between Bitcoin price rallies and the global money supply. Every time the global money supply pumps, so does the price of Bitcoin. Presently, the global money supply is up and Bitcoin is expected to follow the money supply soon.
https://twitter.com/DrProfitCrypto/status/1844888211425837361 BTC ATH to $80,000 Could Arrive Instantaneously
Next, he marks how BTC whales have accumulated more than 1.5M BTC since March which is 7% of the entire BTC supply. Meanwhile, ETFs have accumulated + 5% of the BTC supply. In response, one reply states that this means old whales have sold their BTC to new whales who are in just +1% profit. Since they are likely to hold for greater profits, it signifies that the bull cycle is far from over.
Lastly, he reminds the greater crypto community that in the future, the price of BTC will pump like out of nowhere. He expects this pump to take the price of BTC far above the $80,000 region. He expects this pump to arrive soon and encourages traders to accumulate BTC while the asset is in its current sideways consolidation.
The post Bitcoin Rallies to $62,000 Price Range, Silver-Tongued Analyst Calls $64,000 Target Next, New ATH Soon? appeared first on Crypto News Land.
