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Bitcoin (BTC) may prepare for new All Time High (ATH) this year if it passes the important resistance levels at $60,000. Despite the large fluctuations and volatility of the price in the past few months, analysts express bullish optimism with cryptocurrency in the coming months.
The Newest Bitcoin Ever
The Bitcoin price chart is flashing bullish signals as the cryptocurrency rose above $60,000 again. Earlier this month, Bitcoin has crossed over the $60,000 mark but it saw a minor adjustment that brought its price back below $59,000.
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As the cryptocurrency regains its previous momentum, many analysts expect more gains in the future. At X (formerly Twitter) posted on September 17, the popular crypto analyst, Michael van de Poppe suggested that as long as Bitcoin can maintain a stable price above $58,500, the market will remain stable and fair, indicating the possibility. the beginning of a bull market.
Based on his Bitcoin price movement chart, the $58,500 price mark is seen as an important support point to be held and Poppe predicted that if Bitcoin continues to trade above this level, it could be very profitable. pumped to a new all-time high in October 2024. This significant price increase is expected to pass Current Bitcoin ATHexceeding $73,000 by March 2024.
Meanwhile, the trigger for Bitcoin’s March ATH gain was Issuance of Spot Bitcoin ETFs and the next big demand. In this case, BTC is expected to reach a new ATH, caused by a combination of factors, including the fact that Q4 of all Bitcoin is declining years usually we have seen as a bullish period for cryptocurrency.
Before this attack on ATH in October, Poppe it was revealed that Bitcoin can get “income” and short compounding time. The commentator highlighted that September is always a very weak month of Bitcoin, characterized by the price goes down and instability.
However, he predicted that BTC could see a clear break above $62,000 at the end of the month, or at the beginning of October. As of writing, Bitcoin is trading at $60,471, marking a price increase of 3.76% in the last 24 hours, according to CoinMarketCap.
The Next Three Months Are Seen As A Bullish Period For BTC
Bitcoin has been in a bad mood for a long time, and Q3 is seen as one of its cheapest periods this year. In spite of cryptocurrency price crash and further declines continue, analysts highlight that the coming months will be very good for cryptocurrency.
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Crypto Analyst, Crypto Rover revealed by X that September has historically been the worst month for Bitcoin, however, he believes Q4 is set to be the best.
Other analysts like ‘Stockmoney Lizards’ see in advance Bitcoin is hitting the $100,000 peak target by the end of the year, with expectations that Q4 (between October and December) will push the cryptocurrency higher.
The featured image was created with Dall.E, a chart from Tradingview.com