CandleFocus Is Bitcoin to $100,000 now a guarantee?
2024-10-29
Author: Content Editor
Bitcoin has surpassed the $70,000 resistance level, leading many to believe that it may reach $100,000. However, a cryptocurrency analyst has cautioned that confirmation and sustained momentum above $70,000 are necessary for a stable uptrend and to avoid a potential correction. The analyst also predicts a near-term correction and a possible drop below $40,000 before a rally. Despite optimism, resistance levels and low trading volume pose challenges to Bitcoin's ascent. Long-term prospects remain bullish, with projections of Bitcoin reaching as high as $200,000 by 2025. The outcome of the US elections is also being closely watched by investors. Currently, Bitcoin is trading at $71,220 and is up over 3% in the last 24 hours and over 6% in the past week.
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