Bitcoin (BTC) Set to Soar Above $90,000 Amid Rising Money Supply, Crypto Analyst Predicts
Release: 2024/05/04 05:35 Reading: 624
Bitcoin Poised for Major Surge, Experts Predict
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Bitcoin's price action is currently experiencing a significant correction, but analysts anticipate a robust upward movement in the near future.
Based on historical price patterns, experts believe Bitcoin could surpass $73,800 and potentially reach unprecedented all-time highs of $100,000. Key factors such as inflation and the M2 money supply in the United States may also influence Bitcoin's trajectory.
Despite the current corrective phase, Bitcoin's price action may witness a substantial surge, potentially reaching new all-time highs. This article examines the factors that could fuel this upward trend.
Historical Price Action Suggests BTC Could Exceed $90,000
An analyst recently presented a bold prediction based on Bitcoin's price action from late 2022. During that period, Bitcoin experienced a significant decline to $15,500 before rebounding sharply throughout 2023 and Q1 2024. If Bitcoin mirrors this pattern, the analyst forecasts that the cryptocurrency could soar to $90,000 and potentially even reach $100,000. The precise timeframe for this surge remains uncertain, but another analyst suggests that Bitcoin must trade above $60,000 to sustain its upward momentum. This could potentially see Bitcoin climb as high as $95,000 by August 2024.
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