Analyst Predicts Bitcoin Could Soar to $140,000 Following Rare Signal
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Analysts are turning bullish on Bitcoin based on a rare chart formation, with BTC closing two consecutive months above the upper Bollinger Band on the monthly chart. This pattern historically leads to prices doubling within three months, potentially surging to over $140,000 by July 2024. Despite trading below its all-time high, Bitcoin’s sharp recovery suggests a potential uptrend, with buyers eyeing the $74,000 mark and the all-time high. The upcoming Halving event and interest in spot Bitcoin exchange-traded funds (ETFs) could further drive prices higher. Additionally, market events in the United States, particularly the Federal Reserve’s decision on interest rates, could impact BTC’s performance. As always, investing carries risks, and readers are advised to conduct their own research before making any investment decisions.$BTC
