BTC Price All Set To Hit $97K Soon

The recent fluctuations in the trade price of Bitcoin (BTC) have sparked intense speculation and analysis within the cryptocurrency community. With BTC currently trading at $70,660, representing a 5.5% increase over the last 24 hours, analysts and traders closely monitor its movement for potential signals of future trends. 

A Peek into Bitcoin’s Future

The Titan of Crypto, a well-established figure in the crypto analysis realm, recently took to X to share profound insights into Bitcoin’s potential trajectory, hinting that $97000 might be the next milestone. Even though there was a death cross on the daily timeframe recently, the expert thinks that a bull flag pattern is emerging, a sign of an upward trend. But investors should be careful while they wait for proof in the next few days that the death cross is real or fake.

Speculating on the next move, the Titan suggests that a weekly candle closure above the critical $70000 support could pave the way for the ambitious target of $97k.

This prediction stands out because of the apparent extremely bullish momentum in the market. The analyst ventures further, stating that given the current robust momentum, there’s a noteworthy possibility that the projected $97k target might be attained even before halving.

Also Check Out The: Solana Inches Towards $200: Will the Bulls Manage to Keep Up the Rally & Reach $250 in April 2024?

Stay Alert: Correction is Also in Sight

Another analyst warns of potential market correction after BTC surges suddenly to $75,000 on March 27. Such a move could lead to significant losses for leveraged traders and a sharp decline in the prices of other cryptocurrencies. Plus, it is predicted that Microstrategy’s stock (MSTR) will soar to $2,000 per share in response to BTC’s upward movement.

However, channeling the current market mania, Titan of Crypto urges investors to stay calm, emphasizing the recent appearance of a Golden cross and the resilience of the bull flag pattern. Bitcoin has all the changes to hit the new ATH. The analyst believes that BTC’s path to the $97,000 target is clear, all you need to do is wait and watch.

Market Mania Starts with Halving 

Meanwhile, the imminent Bitcoin halving event, expected in 24 days, adds further anticipation to the market dynamics. Historically, Bitcoin halving cycles have led to significant price surges, with past patterns indicating a 100% increase in BTC’s trade price within 365 days post-halving. This upcoming event could allow those not currently invested in Bitcoin to enter the market despite the potential price fluctuations.

Read More: Litecoin Barges Through $100 Ahead of Quarterly Close: Has the Race to $200 Just Began?

Crypto lovers, hang on—the real action is 20 days away. Will Bitcoin repeat history? Time will tell.

Source link

See also  Crypto Analyst Says XRP Price Could Rocket 2,300% To $14.6, Here's How