While uncertainties in financial markets continue to attract the attention of investors, cryptocurrency markets are also affected by these fluctuations. Particularly ahead of Fed Chairman Jerome Powell’s upcoming speech, concerns about potential volatility are rising significantly in major crypto assets like Bitcoin. In this process, experts analyze the course of the market, evaluate possible scenarios and try to guide investors.
In this tense atmosphere, one of the cryptocurrency analysts, Titan of Crypto, has an important opinion about the future performance of Bitcoin. in prediction found. According to Titan of Crypto, Bitcoin’s rise above its current level of $61,500 could be an important turning point, in which case the price of Bitcoin could rise to $110,848. This prediction is based on technical analysis and market trends and can be a valuable guide for investors.
Bitcoin’s Next Target
Based on their analysis, Titan of Crypto pointed out a specific level that Bitcoin investors should pay attention to amid the current fluctuations in the market. The deviations observed on the charts indicate that the $61,500 price level is a critical point. If Bitcoin manages to surpass this level, he predicts a rally to $110,848 is possible.
This prediction comes amid broader market uncertainty, with investors closely monitoring Federal Reserve Chairman Jerome Powell’s speech today. Powell’s remarks are expected to create volatility in financial markets and potentially impact Bitcoin and other cryptocurrencies.
Other Predictions
On the other hand, popular analyst Michaël van de Poppe highlighted the significant levels ahead for Bitcoin in a recent tweet. Meanwhile, Bitcoin is currently testing support around $60.5-61K and a break above $63K is crucial for a potential rally towards a new all-time high.
Furthermore, Van de Poppe suggests that a successful breach of the $63,000 resistance could signal a bullish trend and potentially push Bitcoin towards the previous all-time high.
Crucial decisions approaching for #Bitcoin.
The range low at $60.5-61K is still holding up for Bitcoin, through which breaking $63K is the next barrier for a new run towards the all-time high.
If $60.5K is lost, I think we’ll see $52-55K as the next support zone. pic.twitter.com/VoErZ1WVQv
— Michaël van de Poppe (@CryptoMichNL) May 14, 2024
However, Van de Poppe also warns that if Bitcoin loses the $60.5K support level, the cryptocurrency could face a downward move towards the $52-55K support zone. This scenario highlights the importance of monitoring key levels for potential market direction.
You can access current market movements here.
