š„š„š„Bitcoin (BTC) Price to Hit $84K in Next 6 Weeks: Hereās Why
š Ethereum ETF Excitement: The anticipation of Ethereumās first spot ETF has led to one of the best days in crypto for 2024. Ethereum, Uniswap, Pepe, Bonk, and Lido all surged over 20% in 24 hours, overshadowing Bitcoin's rise to $71.4K according to Santiment.
š BTC Price to Hit $84K?: Crypto Banter predicts Bitcoin could reach $84,000 within six weeks. Bitcoin's recent close above crucial levels and a bullish trend suggest a significant price surge despite geopolitical turbulence. The recent pump caused $345 million in short trader liquidations, indicating bullish control.
š Historical Bullish Period: Historical data supports this optimistic forecast. The stochastic RSI indicates a positive cycle, and past breakouts suggest a 30-40% increase. Bitcoin closing above the weekly trend line makes reaching $84,000 plausible.
š” Why is Bitcoin Pumping?: Increased liquidity and market interest, positive Federal Reserve policies, and more capital flowing into Bitcoin (USDT and USDC supply increase) are driving prices up. Bitcoin reacted positively to the US SEC's changing stance on Ethereum and its spot ETFs, along with the recent Bitcoin halving.
š® Whatās Next for Bitcoin?: Key technical indicators support bullish sentiment. Low RSI levels suggest growth potential, and a breakout above $74,000 could start a new upward phase. All indicators suggest Bitcoin could reach $84,000 within six weeks, emphasizing the importance of informed, data-driven decisions in the volatile crypto market.