CandleFocus Why Bitcoin Bull Run 2024 Could Be the Biggest Crypto Event Yet!
2024-09-10
Author: Content Editor
Bitcoin (BTC) has seen a rebound in price after hitting a monthly low of $55,500. The price has surged over 5% in the past three days, indicating a potential price reversal. VirtualBacon, a crypto analyst, warns of a Bitcoin shakeout and suggests that Bitcoin may experience one final plunge before a new bull run. However, VirtualBacon believes that a long-term bear market is unlikely and predicts that the Federal Reserve's upcoming rate cuts and liquidity injections will fuel a bull market that could continue into 2025. The critical support level for Bitcoin is around $45,000, and technical indicators suggest that even if Bitcoin briefly dips into a strong support range between $43,000 and $49,000, it is more likely to bounce back than experience a sustained drop. Despite the current market sentiment of fear, VirtualBacon encourages investors to remain calm and predicts that Bitcoin could reach $100,000 and potentially $200,000 by the end of 2025.
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