The RSI proves that Bitcoin is dancing to the beat of bullish tunes. This is evident as BTC has reclaimed the $66,000 mark. Although this happened briefly, it prepared the resistance at $63 800. La formation of the triple-vertex trend also contributed to this factor. all hopes for a new HUD in the coming days. Moreover, recent trends have validated the continuation of the uptrend.
It remains to be seen whether BTC will surpass the $73,000 mark and claim a spot at $80,000. If this is the case, the path will be transparent for gradual construction up to $100,000 through 2024. The $75,000 limit is more convenient, followed up to $80,000. However, the original estimate of $100,000 still stands. The Bitcoin Spot ETF has contributed a lot to the rise in its value. Bitcoin’s halving has yet to show a significant impact, but the symptoms are more than tangible.
The halving concluded last Friday by halving miner rewards and controlling the flow of BTC tokens. This has made a potential short-term improvement uncommon. Expectations of rate cuts by the Federal Reserve Bank are also very likely to work.
There is a striking comparison between gold and Bitcoin. This is not new to the world, however, it has been further strengthened with the advent of the Bitcoin ETF. The bull run will continue to be judged by BTC’s functionality in the market. It’s on a project that will stay above the $66,000 mark.
A drop below this margin will have a negative effect. Still, let’s assume that history has taught crypto enthusiasts something. In this case, BTC can rally at any time, defy all odds, and generate higher profits for investors.
It is this very nature that has paved the way for BTC’s expected value. Estimates expect a diversity of $86,000 to $100,000 on paper for Bitcoin through 2024. The current figure is within the specified diversity of $64,000 to $69,000 by April 2024.
It is said that it was the bulls who triggered the rebound. Whales reinforced this sentiment by appearing strongly after the rebound. The increases are roughly between $73,000 and $76,000, which may take place in the next 2 to 3 months. ETH and SOL have made a wonderful impression with an increase of 1. 26% and 1. 49%, respectively, in the last 24 hours. They are trading at $3,201. 67 and $153. 09 in the same order.
BTC still has a long way to go before it can fulfill the prophecy of reaching $100,000 by December 2024. It is also close to reaching $150,000, provided the scenario is favorable for the crypto market.