The price of Bitcoin has once again soared, breaking past the $70,000 mark and indicating a strong bullish trend for the cryptocurrency. Crypto Jelle, a well-known cryptocurrency expert and Bitcoin advocate, has recently made a positive forecast for the digital asset, setting a short-term target of $82,000. Jelle pointed out that Bitcoin had experienced a fakeout, retested the highs of 2021, bounced back, and then broke out once again. According to the analyst, Bitcoin is now facing just one more hurdle to overcome after the retest. He emphasized that the momentum towards new highs will kick in once Bitcoin manages to break and sustain a price above $71,500. As a result, Jelle anticipates an upcoming rally with the next target for the coin set at around $82,000.
Crypto Jelle addressed a common concern within the crypto community where some individuals are worried about the next 3% move in the price of Bitcoin. However, when analyzing the higher timeframe chart, the outlook appears more optimistic. Jelle urged investors to remain patient and continue holding onto their investments to benefit from the expected positive movement as Bitcoin seems poised for significant growth in the coming months. With the upcoming halving event expected to take place soon, Jelle’s prediction could materialize in a relatively short timeframe. Historically, halving events have had a substantial impact on Bitcoin’s price, potentially leading to significant surges in value. If this year’s halving follows past trends, Bitcoin could reach $82,000 within weeks and possibly continue moving upwards. Some analysts even speculate that the event could drive Bitcoin’s price to $150,000 by the end of the year.
At the time of writing, Bitcoin was trading at $70,344, indicating a 1.84% increase in the past 24 hours. Both its overall market capitalization and trading volume also saw an uptick of 1.87% and 13% respectively within the same period. Following the recent price recovery of Bitcoin, numerous bullish predictions have emerged regarding its future trajectory. Another analyst, Adrian Zidanic, has also predicted Bitcoin’s price to surpass the $80,000 range. During an episode on Thinking Crypto, Zidanic discussed a bullish ascending triangle forming in Bitcoin’s chart during the current consolidation phase, with a target price of $86,500. While Zidanic’s projections suggest a more favorable outcome in the short term, the show’s host, Tony Edward, expressed his optimism about the potential post-halving price movements. Edward believes that Bitcoin could potentially climb even higher, reaching the $90,000 mark. His suggested price range falls between $85,000 and $90,000, emphasizing the importance of patience within the community.
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