Bitcoin winks at the bull run: “This time it’s different”

Commenting on #Bitcoin (BTC) reaching $60,000 for the first time in two weeks, the crypto analyst predicted that the rise will continue.

The cryptocurrency market entered an eventful weekend. Altcoins recovered on Friday with BTC rising by over 4 percent.

Although BTC’s rise was considered as a pre-pricing of the Fed’s interest rate decision next week, the analyst argued that the rise would be permanent.

Crypto expert Rajat Soni commented in his X post dated September 13, “This time it’s different.”

Rajat Soni, who explained that Bitcoin has been consolidating above $50,000 for more than six months, published a remarkable analysis.

$BTC last rose above $50,000 in 2021, and during that period, the asset was mostly shown interest by individual investors. Evaluating historical data, Soni stated that the #BTC price had difficulty maintaining $ 50,000 due to individual investors who bought and sold based on emotions.

“Institutional investors are ready to buy everything individual investors want to sell,” Soni said, and concluded his words by saying, “If you are selling, be prepared to pay much more to get the same amount back.” The analyst argued that the increasing interest from institutional participants was greater than in 2021.

Trader Jelle suggested that #BTC could defy the downward trend in September. Noting that there were only three green closes in September, Jelle commented, “#Bitcoin is currently on track to close September in green.”

Michaël van de Poppe reported in his X post dated September 12 that the BTC price remained below its potential and should reach $ 300,000.