Bitcoin
This is where Bitcoin (BTC) could reach $100,000
Bitcoin (Bitcoin) has seen a notable uptrend this week, boosting the asset’s value to $67,000 as it targets a new all-time high after a challenging start to May.
A prevailing market sentiment suggests that Bitcoins the next record goal is $100,000 (create an alert), with speculation growing that the milestone could be reached during the projected post-halving recovery.
In line with this sentiment, trading expert TradingShot shared insights in a TradingView publish on May 18, based on Bitcoin technical indicators to outline potential factors that could drive the asset to $100,000 and a possible timeline.
TradingShot’s analysis focused on inverse head and shoulders (IH&S) standardThe optimistic reversal formation observed in technical analysis. Since May 6, the expert noted that expectations have been high for Bitcoin to break above the lower highs trendline, a key indicator for the IH&S pattern. True to expectations, Bitcoin duly delivered on this front.
Bitcoin price analysis chart. Source: TradingView/TradingShot
Timeline for Bitcoin to reach $100,000
Highlighting historical precedents, TradingShot noted that the two previous cases of IH&S bottom formations resulted in significant price increases of around 95%. Additionally, the one-day Moving Average Convergence Divergence (MACD) indicator reinforces the optimistic outlook.
Based on this analysis, TradingShot predicted that Bitcoin will likely reach $100,000 psychological target sometime after July.
“With the 1D MACD at the same bullish cross that was present in both funds, we expect the psychological target of $100,000 to be reached after July, which will even be an increase below +90%,” the analyst noted.
While the exact timing remains uncertain, the projection underscores Bitcoin’s prevailing bullish sentiment. This sentiment follows a significant correction in early May, with the asset falling to $56,000.
Bitcoin’s Next Trading Standard
In fact, the violation of the $65,000 resistance The level was a critical moment that will likely dictate Bitcoin’s trajectory towards a new record high. Notably, the maiden cryptocurrency it is consolidating around $67,000, a pattern that some analysts predict will continue.
For example, in a recent X publish on May 19, cryptography analyst Michaël van de Poppe advised investors do not anticipate greater volatility in the price of Bitcoin.
“I’m not expecting massive volatility to come. I prefer to wait for consolidation and slow upward movements towards the all-time high,” he said.
At the same time, according to a report by Finbold Crypto analyst RLinda suggested that Bitcoin bulls could be on the verge of breaking existing resistance levels. In this scenario, she highlighted key resistance levels to monitor at $67,250, $71,500, and $73,700, while emphasizing watching crucial support levels at $65,250, $64,500, and $61,500.
Bitcoin Price Analysis
At press time, Bitcoin was trading at $67,280 with daily losses of around 0.12%, while on the weekly chart, BTC was up almost 10%.
Seven-day Bitcoin price chart. Source: Finbold
Considering Bitcoin’s recent price movements, bulls face the challenge of keeping the price above the $67,000 support level for significant upside potential.
Disclaimer: The content of this website should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
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