In recent weeks, Bitcoin's price is forecasted to undergo explosive growth, reaching $85,000 by the end of 2024. Experts note that current price dynamics and market indicators predict a continuation of the positive trend.
Upcoming Bitcoin breakout
Crypto trader and analyst Titan of Crypto predicts an intermediate 35% increase in Bitcoin, which could eventually lead to $85,000. In his post on social network X, he claims that the current situation on the Relative Strength Index (RSI) chart indicates increasing momentum towards a new record level.
Importance of $61,000 level
Popular trader Skew points to the need for confirmation of Bitcoin price strength over the coming week. He notes the $61,000 level as key for maintaining the market. The price must remain above this level to confirm the ongoing growth.
Historical data and forecasts
Titan of Crypto also notes that past data suggests a continuation of the uptrend in Q4 if September ends green. In his forecasts, he refers to similar trends in 2017 and 2020.
The anticipated explosive price growth for Bitcoin by the end of 2024 is confirmed by numerous technical indicators and historical data. As investors continue to monitor developments, key price levels will play an important role in determining the future market dynamics.
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