Cryptocurrency Despite the current volatility in the market, some experts particularly bitcoin He reports opinions in favor of the strong bull.
According to analysis by Bloomberg, Bitcoin’s fundamental values and rising adoption have put BTC in a very good position to rise in the market.
However, let us remind you that the price of Bitcoin has started to recover from the bottom in the last few days.
The Next Critical Price Level For Bitcoin Could Be $100,000, According to Bloomberg Analysts
The Bloomberg Intelligence team predicts that the next critical level Bitcoin can reach could be $100,000.
The team, led by Bloomberg senior strategist Mike McGlone, claimed that the market movements of the BTC price indicate that the cryptocurrency is forming a floor, not a ceiling.
Analysts explained their thoughts on BTC price as follows:
“We think it’s more likely that the bitcoin price is forming a floor rather than a ceiling. This may disappoint traders who are used to the BTC price hovering between $30,000 and $60,000. Since 2021, more tactically oriented workers could hit the Bitcoin price peak and bottom twice.”
According to analysts, the movement in the limited range can now end.
According to the shared analysis, the path ahead of BTC’s price action could be the upside with less resistance.
Analysts think that 30% below the 52-week moving average proves to be a good support point.
According to Bloomberg, the $60,000 level may not form as strong resistance as the previous one.
However, although analysts did not make any statement about when the $100,000 level could be reached, they stated that we will see a new record, not a new bottom, after a step.
*Not investment advice.