Crypto analyst Rekt Capital recently shared insights into the future trajectory of Bitcoin. According to his analysis, Bitcoin might not be quite ready for its next leg up, which could potentially push it above $70,000. He mentioned that Bitcoin needs to successfully retest the $65,000 level as new support in order to establish it as a strong support level. Rekt Capital emphasized the importance of confirming a break back into the $65,000 to $71,500 region to signal the end of the downtrend and pave the way for a revisit to the previous top above $70,000.
Crypto expert Michael van de Poppe highlighted the $70,000 range as a critical level for Bitcoin to surpass its current all-time high. Altcoin Sherpa also presented three possible scenarios for Bitcoin, including a dump to $63,000 or $60,000, followed by a return to a pump, or a scenario where Bitcoin rises to $70,000 without a significant pullback. However, Altcoin Sherpa remains optimistic about Bitcoin breaking above these levels and reaching $70,000.
Crypto analyst Dann Crypto shared his expectations for Bitcoin heading into the latter parts of the current bull run. He anticipates a run-up in Bitcoin’s price leading up to the US Presidential elections due to the narrative of a potential crypto-friendly President and Vice President. Furthermore, he expects a potential interest rate cut and overall excitement in the market after a period of consolidation. Dann Crypto also mentioned the potential impact of Spot Ethereum ETFs on accelerating the rally, depending on the demand for these ETFs.
Looking ahead, Dann Crypto predicts that the market will likely experience another local top following the end of the current Bitcoin rally, with this potentially occurring in the new year. He also forecasts that the final rally in this bull run will take place in the latter half of 2025, following the established 4-year cycle. According to Dann Crypto, this cycle has historically been reliable, and he sees no reason why it shouldn’t work this time around.
Various crypto analysts have provided their insights and predictions for the future trajectory of Bitcoin. While there are differing opinions on the potential price movements and scenarios, the overall sentiment remains cautiously optimistic. Investors and traders will need to monitor the market closely and be prepared for possible fluctuations as Bitcoin navigates its path towards new highs.
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