Last updated on May 18th, 2024 at 12:49 pm
A top crypto analyst has shared his insight on the price of Bitcoin, pointing out that the price of the asset will break above the $100k mark in 21 days. His analysis has generated excitement and agreement among investors in the community.
Bitcoin breaks all-time high
Bitcoin, the largest cryptocurrency in the market by trade volume reached a new all-time high on March 11 after it surpassed $71,000 for the first time. The price of the token has been strongly influenced by the large influx of money into the crypto market.
In the last 24 hours, Bitcoin has surged by almost 3% as the bullish sentiment across the market continues to grow. Data from Alternative suggests “extreme greed” as the crypto fear & greed index rests at 82 points.
This year, Bitcoin has increased in value by almost 70%, with the majority of that growth occurring in the last few weeks due to a rush of capital into newly established spot Bitcoin exchange-traded funds and expectations that the Federal Reserve will soon lower interest rates.
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While the rally isn’t looking to stop soon, several crypto analysts have dropped their predictions analyzing the short-term price movement of the token. Notably, a popular crypto analyst ‘Crypto Rover’ on X (formerly Twitter) has made a bold statement regarding this.
Bitcoin to hit $100k in 21 days
The aforementioned expert, famous for their keen research and market forecasts, revealed that insiders recognize a trend whereby, after surpassing its all-time high (ATH), Bitcoin usually reaches the 1.618 Fibonacci extension, or around $102,134, in 21 days. They advised enthusiasts to unwind and watch as the $100K climbs.
Source: X
Coupled with the present trend of the digital asset, beating its previous high of $69,000, investors have taken this prediction as a gospel hoping that this potential outcome comes to fruition.
Both investors and enthusiasts are keenly watching as the countdown to the $100,000 milestone starts. Should Crypto Rover’s forecast come to pass, the upcoming twenty-one days may prove to be crucial in securing Bitcoin’s reputation as a leader in the field of digital assets. The road to $100,000 may very well be attainable given the current favorable market conditions, ushering in a new era of cryptocurrency investment.
Bitcoin (BTC) price today
The current bullish sentiment across the crypto market gives life to the positive outlook by crypto analysts. According to data from Coinstats, Bitcoin is currently trading at $71,956, representing a 3.49% increase in the last 24 hours.
What is more, BTC has grown significantly by more than 10% in the last 7 days accompanied by a surge in its volume. Live data shows that its trading volume has surged by 78% over the last day reaching $52.2 billion and indicating an increased interest from both individual and institutional investors. Finally, Bitcoin’s market cap has reached $1.4 trillion, taking up more than half of the global crypto market cap.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.