CandleFocus Here’s Why Bitcoin May Not See Lower Prices
2024-10-18
Author: Content Editor
Bitcoin has experienced a significant price increase in the past week, growing over 11% and 13% from its monthly lows. Despite bearish sentiments and predictions of lower prices, Bitcoin defied expectations and reached $68,000. Market analyst Michael van de Poppe initially speculated a correction to $65,000, but now believes favorable economic data, such as the rate cut by the European Central Bank and strong US job data, may push Bitcoin's price higher. Poppe now expects Bitcoin to reach its all-time high in November and close the year at $90,000. Other analysts, such as those at Standard Chartered, predict Bitcoin to surge to $150,000 by the end of the year. As of now, Bitcoin is trading at $67,838.
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