Bitcoin began a bull run in the crypto market two weeks ago and has since reached $66,480, a level last seen in July. This two-month high for Bitcoin has boosted the broader altcoin market.
Bitcoin's Growth Momentum
Bitcoin started its bullish trend in the crypto market two weeks ago and has reached $66,480. This two-month high for Bitcoin has led to a surge in the broader altcoin market. Many other crypto assets have also reclaimed high points last seen three months ago.
Analysts’ Predictions
The market projects that Bitcoin could reach the $70K level, possibly setting a new all-time high above $73K. Analysts associate such predictions with current trends and market activity.
Warnings of Potential Correction
The intelligence platform Santiment has warned that despite the anticipation for a new all-time high for Bitcoin, the market needs to temper its expectations. Santiment's analysis emphasized that there are currently more than 1.8 bullish posts for every bearish post, which could lead to a price correction.
The current Bitcoin market scenario showcases significant achievements and potential for further growth. However, analysts advise caution and moderation in predictions.
Comments