While most of the cryptocurrency market is slowly trying to recoup the losses suffered in the previous decline, Bitcoin (BTC) is no exception, and cryptocurrency experts agree that further price increases, perhaps even a new all-time high (ATH), could be in store.
In fact, pseudonymous crypto analyst Trader Tardigrade said that the next target for Bitcoin could be $46,000 based on the linear chart that has shown similar development over the period between 2018 and 2021, according to analysis published on September 15 .
Linear Bitcoin chart analysis. Source: Trader Tardigrade
New record planned?
Previously, the crypto expert predicted that the flagship decentralized finance (DeFi) asset would experience a “parabolic rally” and perhaps even hit a new record, stating that Bitcoin “has never lost its track” and that “the new Bitcoin ATH is on the way.” this post-shakeout bull run.”
Additionally, in his recent social media post, he emphasized that $30,000 would provide a foundation for Bitcoin to rise towards the new ATH. Specifically, he stated:
“Before BTC peaks, it will fall back to $30,000. The new floor will be $30,000!!”
At the same time, Michaël van de Poppe, a renowned crypto trading expert, emphasized that Bitcoin “may be ready to start the bull cycle” if it “remains above the 200-week mark.” [exponential moving average (EMA)]and it should stay above this level,” arguing that “it is the best time of the cycle to accumulate your altcoins.”
It’s also worth noting that another crypto analyst, thescalpingpro or Mags, shares the bullish sentiment by publishing a chart showing the crypto’s moves in each halving cycle and announcing the “Bitcoin Bull Run Incoming,” like Stockmoney Lizards “textbook Wyckoff behavior” was observed. ” before a price increase towards $35,000 in 2024.
Bitcoin price analysis
Meanwhile, Bitcoin was changing hands at a price of $26,455 at press time, up 0.08% in the last 24 hours and up 2.42% in the last seven days, while last ever on its monthly chart Data still recorded a loss of 9.14%.
All in all, whether the first digital asset actually manages to show the price performance predicted by the above-mentioned crypto experts depends on many different factors, including market sentiment, technical analysis (TA) indicators and related developments.
Disclaimer: The content of this website should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.
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