In the past weeks, Bitcoin There was an upward increase in price. A recent Bloomberg report indicates the potential for the price of Bitcoin, the pioneer of the cryptocurrency market, to rise significantly in the coming weeks if Bitcoin’s current trend continues.
Technical Analysis Points on Bitcoin Price Fluctuation
The Bloomberg report notes that BTC compares its rally to $52,000 with previous surges, predicting further gains in the coming weeks. The three-fold increase in Bitcoin’s price since the beginning of 2023 is related to the upcoming halving and the growing excitement around US ETFs. This upward trend indicates that, based on historical data, Bitcoin prices will likely reach all-time highs.
Koinfinans.com As we reported, as of February 18, Bitcoin prices have increased for four consecutive weeks. According to Bloomberg data, BTC has gained an average of 49% in value in the last five years. If this trend continues, Bitcoin is expected to reach almost $78,000.
According to Bloomberg, options contracts are used by traders with a variety of strategies. According to data from Deribit, call spreads for BTC are currently one of the most popular techniques. This suggests that investors are expecting further BTC gains, albeit without significant increases. In a bullish call option spread, investors purchase a partially funded call option by selling a contract at a higher strike price on the same expiration date.
BTC Price Forecast and Market Outlook
Economists are optimistic that the Bitcoin (BTC) price can reach a target as high as $1,000,000 in the long run. This optimism has increased as BTC surges above $52,000 as sentiments rise following the recent fluctuations. However, there is some doubt about whether this figure is realistic and how difficult it might be to exceed.
However, many cryptocurrency The unit is thought to have bright potential in the future. Bitcoin is expected to continue to maintain its leadership position. Some organizations speculate that the price of the original cryptocurrency will increase in the future. Some companies, such as Bitwise, predict that the price of Bitcoin could exceed $80,000 in 2024. Platforms such as Coinbase state that institutional investments will continue to be interested in Bitcoin at least in the first half of 2024.
BTC price prediction, Bitcoin and Ethereum This is also supported by weekly inflow figures showing that fund inflows broke a new record with $2.45 billion last week.
