CandleFocus Experts Say this Signal Suggests an Imminent New Bitcoin ATH
2024-09-16
Author: Content Editor
Bitcoin has received attention as experts predict a potential new all-time high, despite a recent 2% drop. Analyst Moustache pointed out key buy signals on Bitcoin's monthly chart that have historically preceded price surges. In the past eight years, there have only been three instances of a buy signal, each leading to a new all-time high. Moustache highlighted the 2015 correction, the 2020 recovery, and a recent retest in 2023 as key moments signaling future surges. Another analyst, CryptoJack, emphasized Bitcoin's position within a bullish "cup and handle" structure, predicting a potential target price of $128,000. However, longtime critic Peter Schiff expressed skepticism, comparing Bitcoin's performance to silver and doubting its ability to maintain value compared to precious metals like gold.
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