Price Analysis

Bitcoin Price Prints Gains! $60K Around the Corner!

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On Wednesday, the Bitcoin price continued to rise, reaching $55,000. This is the cryptocurrency’s highest level in five months, and it comes as institutional investors join the rally. The price of bitcoin has grown by more than 13% in the last week alone.

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BTC/USD was down 3% on Thursday, aiming for $53,000  and its $1-trillion market value before recovering, according to data from TradingView.

The pair had reached local highs of $55,800  its highest since before the May mining crash but overly bullish markets quickly began to show signs of exhaustion.

On the journey back to price discovery, Bitcoin faces strong resistance levels of $58,000, $60,000, and more, while being less than $10,000 from all-time highs at one point.

Also Read: Ethereum Picks up Pace! ETH Price to Hit $30k by May 2022, Here’s how

Analysts call for $100K!

Amidst convincing BTC price action, various popular analysts on Twitter are making their bullish pitch and charting out the next levels for BTC.

Analyst Benjamin Cowen in his tweet points out how despite the FUD, Bitcoin has been rising and will continue to do so.

Analyst Another Pompliano implies that this rally is just the start and approval of Bitcoin ETF in the 4th quarter will heat things up. More gains for the token can be expected then.

He also mentions the number of tokens in circulation as he says,

“Approximately 85% of bitcoin in circulation has not moved in the last 90 days. Insane”

Analyst Moon Carl said, $60000 is around the corner and this will set the road for BTC to hit $100K 

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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.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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