CandleFocus Crypto Analyst Says Bitcoin Price Is Approaching Strongest Part Of The Bull Run, Here’s The Target
2024-10-30
Author: Content Editor
Crypto analyst Tony Severino believes that the Bitcoin price is entering the strongest part of the bull run and could reach a market top of $133,000. He based this prediction on the BTC 2-month Relative Strength Index (RSI) reaching 70, which has historically led to significant price surges. Another analyst, Ali Martinez, also suggests buying Bitcoin as the Market Value To Realized Value (MVRV) ratio has crossed over its 365-SMA, indicating potential for major bull rallies. Martinez predicts that the Bitcoin price could reach between $174,000 and $462,000 based on past Fibonacci retracement levels. The consensus remains that Bitcoin will rise above $100,000, with some experts suggesting it could go even higher if Donald Trump wins the US presidential elections. Currently, the Bitcoin price is trading at around $72,300.
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