Market Expert Predicts Bitcoin Could Reach $100,000 Within 90 Days
24 Outubro 2024 - 6:30PM
NEWSBTC
Despite the Bitcoin price consolidating between $65,000 and $68,000
over the past few days, analysts are increasingly optimistic about
the potential for upward movement and new all-time highs for the
largest cryptocurrency on the market in the coming months.
Bitcoin Surge Regardless Of US Election Outcome In a recent social
media post on X (formerly Twitter), market expert Timothy Peterson
highlighted a basic trendline for the period 2023-2024, suggesting
that current price behavior mirrors previous uptrend
patterns. In his analysis, Peterson asserts that a move just
above this trend could see Bitcoin reaching $100,000 within the
next 90 days, a prediction he considers entirely reasonable.
Related Reading: Ethereum Price At $10,000: Symmetrical Triangle
Breakout Predicts Big Gains Peterson’s analysis indicates that a
conservative estimate places Bitcoin at this milestone by February,
regardless of the outcome of the upcoming US elections, which could
also have a notable impact on BTC’s price performance. The
expert also noted that BTC does not appear to be overvalued, making
a drop below $60,000 increasingly unlikely, especially as the
$66,000 support level has prevented a further correction over the
past week. Crypto analyst Rekt Capital, has also expressed bullish
sentiments, stating that Bitcoin is positioned for a strong weekly
close above critical support levels. The recent retest of the
key $66,000 support proved successful, with BTC rising to the
$68,000 mark in Thursday’s trading session, coinciding with
significant regulatory developments in the US. BTC Price
Spikes 2.5% Following Legislative Advances As reported by
Bitcoinist, the Pennsylvania House of Representatives recently
passed the ‘Bitcoin Rights’ bill, aimed at safeguarding
individuals’ rights to self-custody their digital assets, affirming
their ability to use Bitcoin for payments, and establishing clear
taxation guidelines for Bitcoin transactions. Dennis Porter,
founder of the Satoshi Action Fund, emphasized the importance of
this legislation in shaping the political landscape as the country
approaches the 2024 elections. Announcing the news, Porter
noted that BTC adoption is growing, creating a motivated voter base
eager for political allies who champion financial freedom and
innovation. He believes that this voter base crosses traditional
party lines, appealing to those who prioritize economic autonomy,
technological advancement and digital privacy. Related Reading:
Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally Porter
also pointed out that Bitcoin serves as a potential escape from
Central Bank Digital Currencies (CBDCs), resonating with many
voters who feel strongly about financial sovereignty and resistance
to centralization. With just 12 days until what is being
dubbed by Dennis as the most significant Bitcoin election in recent
history, he urged both Donald Trump and Kamala Harris to leverage
their influence within their respective parties to ensure the
smooth passage of the ‘Bitcoin Rights’ bill. In light of these
developments, Bitcoin has experienced a 2.5% surge in price over
the past 24 hours, accompanied by a notable 10% increase in trading
volume, which has reached nearly $33 billion. Featured image
from DALL-E, chart from TradingView.com
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