As the crypto market continues to grow, many are looking for reliable bitcoin price prediction To help guide their investment decisions. A. a recent statement of Bloomberg Analyst suggests that BTC could reach $100,000 if the historical trend holds true.
This begs the question – is now the right time to buy bitcoin and capitalize on this potential price increase?
Bitcoin closes in on record for most consecutive monthly gains since 2021
Bitcoin is on track for its fourth consecutive monthly gain, the longest such streak since March 2021. During the US session, the cryptocurrency was trading around $27,900, with other digital assets such as Ether, Binance Coin and Cardano also rising.
Historically, four-month winning streaks have increased bitcoin’s value by an average of 260% over the following year, according to Bloomberg data. If this trend continues, the largest digital asset could reach a record $105,000.
Bitcoin’s 80% rally in 2023 has been influenced by factors such as a possible Federal Reserve monetary policy change, concerns about fiat currency stability, and the upcoming halving event.
Recently, Standard Chartered Bank, BCA Research and Bloomberg Intelligence have highlighted the possibility of bitcoin reaching at least $100,000.
Bitcoin Is On The Rise Again As Crypto Winter Is Finally Over
Crypto winter is finally over, and according to a research report Bitcoin (BTC), the world’s largest cryptocurrency, could potentially reach $100,000 by the end of the year, according to Standard Chartered Bank.
Factors contributing to this growth may include the recent banking sector crisis, which has reinforced bitcoin’s role as a decentralized, scarce digital asset.
Analyst Geoff Kendrick pointed out that the report published Monday highlights bitcoin’s reputation as a safe haven, a perceived store of value and a means of remittance. Since the beginning of the year, bitcoin has experienced an increase of 65%.
bitcoin price
The current live bitcoin price is $27,969.10 with a trading volume of $18.4B in the last 24 hours. Bitcoin is down 5% in the last 24 hours. It is ranked #1 by Coinmarketcap with a live market capitalization of $541 billion.
Bitcoin price experienced a significant decline from $29,600 to $27,640. On the four-hours chart, bitcoin declined below the 50-day exponential moving average, which previously acted as a support area near the $28,800 mark.
The candlestick patterns indicate a prevailing bearish sentiment in the market, while the RSI and MACD indicators suggest a possible downside bias for bitcoin price today.
On the downside, bitcoin may find immediate support near the $27,600 level, marked by a trend line visible on the 4-hours chart. If the price breaks below this important 27,600 level, BTC could move higher towards the next support at 27,200.
Top 15 Cryptocurrencies to Watch in 2023
In addition to bitcoin, the market offers a variety of promising cryptocurrencies, including emerging altcoins and presale tokens with the potential for substantial returns.
As a result, the Cryptonews Industry Talk team has compiled a list of the top 15 cryptocurrencies for 2023, each of which has demonstrated strong potential for both short- and long-term growth.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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