CandleFocus Bitcoin price to hit $275,000, top crypto expert predicts
2024-12-11
Author: Content Editor
The Bitcoin price has encountered resistance around the $100,000 level as retail investors take profit. However, crypto analysts believe that Bitcoin has more upside potential due to growing demand and diminishing supply. The limited supply of 21 million coins, with millions lost and held by entities unwilling to sell, contributes to its value. The decreasing amount of Bitcoin on exchanges and rising mining difficulty further support its potential. Inflows in Bitcoin ETFs have surpassed expectations, indicating increasing demand. Analysts project that Bitcoin could reach $275,000 and even surpass gold's market cap by 2029. The bullish breakout in the BTC price and its position above moving averages suggest that it may continue rising, with a target resistance level of $122,258.
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