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This Is When Bitcoin Price Could Hit $60,000, Is New ATH Within The Limits?

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Bitcoin price after a 3-month long gap surged above $50,000, but woefully, slipped below these levels to consolidate. The BTC price is expected to trend within the same region for some more time to build a healthy consolidation. However, the asset is still hovering around the benchmark in showcasing a strong tendency to surpass the upper levels soon. 

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As the price slipped below the levels, many believed the trend is flipped bearish. Also, the indicators point out towards a downtrend. Yet the asset could ultimately bang on the levels after a healthy consolidation as predicted by a popular analyst, Micheal de van Poppe. 

According to the analyst, the price could hover below $50,000 for the next couple of months before surging to $57,000. The analyst also looks for a dip below $45,000 and a substantial recovery to $51,000 by the end of October 2021. 

Considering the daily chart, the BTC price is consolidating in a very similar fashion as it did in Februvary 2021. The asset consolidated for the first time after it just surpassed $50,000 in Feb 2021. Later the price jumped to $58,000 which was followed by a massive pullback to below $45,000. However, the price regained bullish momentum and propelled high above $60,000 by mid of March. 

If the Bitcoin(BTC) price follows a similar trend, then it could take yet another months time to surpass the $60,000 mark. Also, a couple of dumps may also be included within the rally in order to form a new ATH in the coming days.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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