The leading cryptocurrency, Bitcoin, I finish 100% from the beginning of the year to date. Despite these impressive gains, there is still reason to believe that… The encryption code did not reappearas there still could be New heights Before the year runs out based on analyzes from prominent figures in the community.
Will Bitcoin reach $69,000 this year?
in mail It was shared on his platform X (formerly Twitter), Prominent cryptocurrency analyst Dave the Wave She indicated that Bitcoin could rise to its previous highs in the last quarter of the year. Although he did not say what exactly the highs were, the accompanying chart he shared in the post showed that he was hinting at an all-time high for Bitcoin at around $69,000.
Run to the previous one #BTC The highest levels in the last quarter are unimaginable. pic.twitter.com/INesJPY9ov
– Dave The Wave🌊🌓 (@davthewave) November 9, 2023
This is not the first time a cryptocurrency analyst has shared his belief that Bitcoin could reach $69,000 this year. Earlier Share XHe shared a similar chart, which set a $70,000 price target based on speculation of “another small parabola topping the half.”
It is not uncommon for The market is pumped dramaticallyAs historical data indicates. The price of Bitcoin rose significantly before and after each halving event. Before the recent halving event, which occurred in 2020, Bitcoin rose by more than 17% in the weeks leading up to the event and saw another 559% increase after the event.
Bitcoin (BTC) is currently trading at $37.072. Chart: TradingView.com
However, many would argue that All time high (ATH) Before the halving event, which will happen in April 2024, seems a long way off, especially if the analyst expects the new high to happen before this year runs out.
Will Bitcoin reach a new all-time high before April?
While reaching a new all-time high before the year is out seems like a big task, some prominent figures have backed the cryptocurrency token to reach a new ATH before April. One of them is Bitcoin OG and Blockstream founder, Adam Back. It is interesting, back And he expected (In August) BTC will reach or even exceed $100,000 before March 31, 2024.
To show how confident he was in his assertion, the cryptocurrency founder went so far as to place a bet with another X user who disagreed with his stance. both of them Agreed To bet 1 million satoshi, with the winner (based on the price of Bitcoin by March 31, 2024) receiving the entire amount.
Jan3 CEO and fellow Bitcoiner, Samson Mow, also agreed with Back in a way, as it is Believes That Bitcoin will also reach the new ATH pre-halving and will not be published. However, unlike Back, he did not mention any target price.
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