Not So Down, Bitcoin Prices Even Become Rp 168 Million – After a drastic decline (-30%) that erased many of the advantages in the Bitcoin market that occurred in the past few days, the trend bulls of Bitcoin (BTC) once again swung and pushed the price significantly higher.
Now, analysts note that historical patterns signal that this latest setback is only part of the “plan”, and that if this pattern has to be repeated, the price of Bitcoin will likely jump 153% again to the highest level of all time!
At the time of the press, Bitcoin prices rose 5 percent from 162 million to 168 million, according to CoinGecko .
The massive reflection released by BTC after tapping the $ 9,000 area certainly shows the fact that the market is still in a strong market even though the recent selling pressure has made BTC back from its recent height in 2020 at the level of $ 13,800 .
In the near future, it is very likely that this year’s highest level will remain a Resistance level for Bitcoin, but strengthening fundamentals can increase the Bulls’ efforts to push prices back to the highest levels previously set.
Alex Kruger, an economist who focuses primarily on cryptocurrency, lists some of the Bullish fundamentals in his poetry that show things such as upcoming halving, institutional market participants, and a lack of current retail purchasing pressures.
“The reason why Bullish $ BTC is even though the top-off: 1. Big buyers out there 2. Retail has not participated 3. Large institutional will come online 4. Macro narration accordingly 5. Positive macro decline 6. Crypto hoarder 7. Count down Halving. ”
As for where this Bullish fundamentals can take the price of Bitcoin in the near future, one leading analyst now notes that it is very likely that BTC can immediately surge past the previous highest level because of the similarities between these increases and increases that have been seen in previous years.
Josh Rager, a popular crypto analyst on Twitter, discussed this in his notes that he believed BTC was posing for 153% in the near future, which, if true, would send the price of Bitcoin to more than $ 24,000 – 153% profit from the lowest level recently, $ 9,600. Josh said:
“$ BTC: We pullback 30%, so what’s next? History says that price consolidation was followed by an average increase of 153% before the next major setback. There are big prizes to buy a pullback in the Bullish market. ”
How the action of the Bitcoin price in the near future is likely to determine the direction in which it will go in the coming months and years, and a very positive reaction to the recent pullback is certainly a problem for the Bears. Let’s wait and see.