Bitcoin (BTC) is back in the spotlight, reaching levels not seen since May 2022 and sparking a bull market. The surge is attributed to the BTC halving and the possibility of a spot BTC ETF
launch, causing a surge in FOMO (fear of missing out) among investors and boosting buying activity.
Bitcoin’s dominance in the market has crossed 52%, with its price climbing above $35,000.
Despite the excitement, some FOMO-driven investors are selling their Bitcoin holdings. However, there is some good news as well. A prominent figure in cryptocurrency analysis, Peter Brandt, has made an optimistic prediction coinciding with Bitcoin’s breakthrough above the crucial $31,000 resistance level.
So, why is Bitcoin on this remarkable rise? Various experts have diverse opinions, but one analyst suggests that we may have hit rock bottom. We’ll let you decide…
Peter Brandt, a respected name in cryptocurrency analysis, shared his strong belief on Twitter that Bitcoin has reached its lowest point. He acknowledges the unpredictable nature of financial markets but remains confident.
Brandt predicts that we may not see new all-time highs (ATHs) until the third quarter of 2024. He also suggests that Bitcoin might go through a period of consolidation or sideways movement lasting two year
Read More: Bitcoin Price Might Really to $150K-$350K Amidst Bitcoin Halving and Spot ETF Approval
Brandt is not the only one with an optimistic outlook. Kevin Svenson, a well-regarded crypto analyst, points out a historical trend where the best times to buy Bitcoin often occur before its halving events, emphasizing the cyclical nature of Bitcoin’s price movements.
At the same time, crypto fund manager Dan Tapiero has expressed positive sentiments, stating that Bitcoin’s strong support at $25,000 could push the cryptocurrency to a range of $35,000 to $45,000 in the short term, potentially setting the stage for new all-time highs by 2024.
Also Read: Bitcoin Price (BTC) Jumps 25% in a Month; The Reason Will Surprise You!
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