Is Bitcoin on the Brink of a Major Bull Run? Analyst Predictions Spark Optimism

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Cryptodnes2024/09/24 08:37

By:Cryptodnes

Bitcoin's strong performance in the digital asset market has remained resilient since September began, recently hitting the $64,000 mark.

Analysts are optimistic, noting similarities to the bullish trends seen during the 2020 market surge.

Crypto analyst Lark Davis pointed out that a positive September historically leads to a strong fourth quarter for Bitcoin , supporting his view with past performance data.

Rekt Capital also reminded followers of the significant price movements observed 161 days post-Bitcoin halving, a period that previously coincided with a surge to $69,000 in November 2021.

Ethereum Poised for Recovery Against Bitcoin, Analyst Says

Currently trading at $64,022.38, Bitcoin has shown impressive growth, including a 1.44% rise in the last 24 hours. Technical indicators suggest that if Bitcoin maintains this level, it could reach new highs.

#BTC

Tomorrow, Bitcoin will be 161 days after the Halving

Which is exactly the amount of time post-Halving when Bitcoin broke out from its ReAccumulation Range in 2020 $BTC #Crypto #Bitcoin pic.twitter.com/syHE4Tmgdy

— Rekt Capital (@rektcapital) September 22, 2024

The market is characterized by seven consecutive bullish candles and rising buying volumes, while the Relative Strength Index (RSI) indicates that buyers are firmly in control, signaling further potential for price increases.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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