LIVE🚀 Bitcoin jumps over $71K as the crypto market heats up again, with experts eyeing an $83K target 🎯
After taking a 10-day breather, Bitcoin has surged past $71,000, marking a strong comeback in the crypto world. This rally has brought excitement back to the market, with big names like Ethereum's ether (ETH) and newer players like Solana (SOL) and Avalanche (AVAX) all seeing gains, boosting investor confidence.
Interestingly, this price jump didn’t cause a major sell-off of short positions, suggesting that not many were betting against Bitcoin’s increase. CoinGlass reports that about $195 million in leveraged positions were cleared out, with Bitcoin shorts making up just $53 million of this.
Now, with Bitcoin breaking free from its recent price range, the team at 10x Research is predicting it could reach $83,000 or more. Their analysis points to a big potential gain, up to $15,000-$20,000 from now, based on the patterns they’re seeing, hinting at possible new record highs.
Markus Thielen, head of 10x, highlighted the importance of Bitcoin crossing over its 2021 high of $68,000. Breaking past old highs usually leads to big surges. Plus, with central banks like the Fed okay with letting inflation go a bit higher, Bitcoin's climb might get an extra push. Also, Bitcoin tends to do well in U.S. election years, supporting predictions of it reaching $83,000 to $102,000 soon.
As the crypto scene stays strong and bullish, eyes are on Bitcoin to see if it can hit that $83,000 mark or even break new records. 📈🔥
Do you think Bitcoin will reach $83k? I'm feeling optimistic about its long-term growth.
Share your thoughts below 👇
