Recently, the price of Bitcoin surged past the $70,000 mark, signaling a bullish trend and hinting at further upward movement. Crypto Jelle, a renowned cryptocurrency expert, has made a bold prediction for the crypto asset, projecting a short-term target of $82,000. According to Jelle, Bitcoin experienced a fakeout, retested the cycle highs of 2021, bounced back, and successfully broke out once again. He believes that the cryptocurrency now faces only one final obstacle, which can be overcome by breaking and holding above $71,500. This breakthrough is expected to kickstart a rally towards the next target of $82,000. Jelle’s analysis has sparked optimism in the crypto community, urging investors to remain patient and hold onto their investments as significant growth is anticipated in the coming months.
With an impending halving event scheduled to take place soon, Jelle’s bullish prediction could materialize sooner than expected. Historically, halving events have had a substantial impact on the price of Bitcoin. If past trends are any indication, BTC could skyrocket to $82,000 within weeks of the halving and potentially even surpass that milestone. Analysts are speculating that the event might propel the price of Bitcoin to new heights, with some predicting a target of $150,000 by the end of the year. The current price of Bitcoin stands at $70,344, reflecting a 1.84% increase in the past 24 hours. Both its market cap and trading volume have also seen a positive uptick, rising by 1.87% and 13% respectively.
Joining Crypto Jelle in his optimistic outlook is analyst Adrian Zidanic, who also foresees Bitcoin surpassing the $80,000 range in the near future. Zidanic highlighted a bullish ascending triangle forming in the Bitcoin chart during the consolidation phase, pointing towards a breakout above $86,500. While his projections lean towards a positive scenario unfolding within the month, Zidanic remains confident in Bitcoin’s potential for further growth. Tony Edward, the host of Thinking Crypto, echoed Zidanic’s sentiments, expressing optimism about Bitcoin’s price trajectory post-halving. Edward even suggested that Bitcoin could potentially reach $90,000, emphasizing a price range between $85,000 and $90,000 and advising the community to exercise patience.
Disclaimer
It is crucial to note that the views expressed in this article are for educational purposes only and do not necessarily reflect the opinions of NewsBTC. Investors are reminded to conduct their own research before making any investment decisions, as investing in cryptocurrencies carries inherent risks. All information provided should be used at the individual’s discretion and risk.