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Bitcoin Nears $200K: Analyst Predictions

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by Giorgi Kostiuk

4 months ago


Bitcoin is experiencing significant growth, with experts predicting potential new price records.

Bitcoin's Exponential Rise

Bitcoin surpassed the $100K level for the first time on December 5. A subsequent decline of 4.48% adjusted the price to $96,548.50. However, on December 11, the market rebounded and reached $100K again, increasing by 10.30% over a short period.

Analyst Predictions

Analyst Gert van Lagen predicts that the Bitcoin market could reach the $200K mark soon. In the first quarter, Bitcoin returned over +68.7%, and current trends suggest it might exceed this performance in the fourth quarter.

The market has surpassed the re-accumulation phase, typically considered a resistance zone.

Impact of Recession on Bitcoin

Lagen suggests that global markets may face an economic recession within the next two and a half months. However, he asserts that Bitcoin will remain unaffected as a reliable alternative.

Bitcoin's rise towards $200K highlights its growing strength in the financial market. Even with a looming recession, the crypto market's momentum remains robust.

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