CandleFocus Bitcoin price could retest all-time high soon; analyst predicts
2024-10-07
Author: Content Editor
Bitcoin price rose for two consecutive days on October 7, reaching an intraday high of $64,000, a 6.62% increase from the previous week. The rise in price occurred despite a retreat in American equities. Japanese company MetaPlanet has become the latest major Bitcoin buyer, adding coins worth $6.7 million to its reserves. Crypto analyst Michael van de Poppe predicts that Bitcoin will rise and retest its all-time high of $73,800. Bitcoin's rebound coincided with a significant increase in futures open interest. The next potential catalysts for Bitcoin this week will be the Federal Reserve minutes and US inflation data. The daily chart shows strong resistance, but there are rising odds of a bullish breakout and a retest of the all-time high.
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