CandleFocus Bitcoin price could surge to $500k, crypto millionaire predicts
2024-11-27
Author: Content Editor
The Bitcoin price rebounded after nearly reaching the $90,000 level, following a court victory by Tornado Cash, a crypto mixer, against US Treasury sanctions on its smart contracts. This legal win, supported by companies like Coinbase, marks a milestone for the crypto industry and could lead to more regulatory clarity. There is also optimism that the incoming Biden administration will be favorable towards the crypto sector. Crypto analyst Charles Hoskinson predicts Bitcoin could rise to between $250,000 and $500,000 in the next 12 to 24 months, driven by increasing adoption from companies like MicroStrategy. The formation of a cup and handle pattern and a golden cross chart pattern further support the bullish case for Bitcoin. However, if the coin falls below $49,523, this bullish view would be invalidated.
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