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Price Analysis
Bitcoin, Ethereum, and Solana Price Predictions: BTC, ETH & SOL Price On Verge Of Major Breakout
Author: Nidhi Kolhapur

Feb 20, 2024 8:11
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Cryptocurrency analyst Josh of Crypto World recently discussed the potential for significant breakouts in both Bitcoin and Ethereum. With Bitcoin hovering near crucial levels, Josh opened up about the importance of the impending breakout.

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Bitcoin’s price, currently around $52,000, is on the verge of confirming a major breakout above the golden pocket range of $48,000 to $50,000. Confirmation would require a weekly candle close above $50,000, signaling further bullish momentum. Josh spoke about the significance of this breakout, indicating a possible move towards an all-time high in the coming months. At the time of writing, Bitcoin is up by more than one percent and is trading at $52,158.

Josh also noted the continued inflows into Bitcoin ETFs, suggesting ongoing bullish pressure, particularly during weekdays when stock markets are open. However, Josh warned against expecting uninterrupted bullish momentum, especially over the weekend, due to reduced ETF trading activity and potential sideways consolidation. He pointed out the upcoming holiday on Monday, which could further influence market dynamics upon the stock market’s reopening on Tuesday.

Ethereum Price Analysis
In Ethereum’s case, Josh explained a similar potential breakout scenario above the golden pocket range of $2,530 to $2,670, with a weekly candle close above $2,700 as confirmation. Given that Ethereum is already trading near the $2,900 level, he said that this breakout, if realized, could establish new support levels and pave the way for further upside momentum toward $3,400 to $3,500. At the time of writing, Ethereum is trading at $2900 levels, up by more than 3 percent.

Solana Price Analysis
Additionally, Josh discussed Solana’s price action, noting a recent retest of the golden pocket range between $115 and $117. While highlighting a potential head and shoulders pattern forming, he advised caution. Solana is trading near the $113 level.

BITCOIN HOLDERS: DON'T BE FOOLED (Target Hit)!! Bitcoin News Today & Ethereum Price Prediction!
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Price Analysis
Top 5 Factors That Could Drive the Bitcoin Price to New ATH in 6 Months
Author: Qadir AK

Feb 19, 2024 19:10
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Story Highlights

Bitcoin's price has surged 30% in 3 weeks, and analysts predict it could reach a new all-time high within 6 months.

5 factors that could drive the price up include the Bitcoin halving, new Bitcoin ETFs, etc.

There are also risks, such as the possibility of these events being priced in, geopolitical conflicts, or unexpected selling pressure.

In an impressive start to the month, Bitcoin has surged by $50,000, smashing through the $1 trillion market cap and boasting a remarkable 30% increase in just three weeks. The big question now is when Bitcoin will hit an all-time high, especially with the 2021 peak of $69,000 now just 32% away.

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Here are five key factors that could drive Bitcoin to new highs before summer.

Bitcoin to hit All-Time High of $69K, If?
Analytics firm IntoTheBlock’s report suggests an 85% chance of Bitcoin hitting a fresh all-time high within the next six months. According to their head of research, Lucas Outumuro, this forecast is based on five key catalysts that could drive Bitcoin higher in the coming months.

The Halving Buzz

First on the list is the eagerly awaited Bitcoin halving event in April. Miners seem ready for the event, and Outumuro believes Bitcoin’s all-time high might come just a month after the halving, reducing selling pressure as BTC’s issuance inflation rate drops significantly.

ETFs: A New Player in the Game

The second catalyst is the influx of funds from recently approved Bitcoin exchange-traded funds (ETFs). These ETFs have already attracted around $4 billion in new investments within a month of launch. With supply issuance decreasing post-halving, this significant influx of funds has the potential to boost Bitcoin demand.

Federal Reserve’s Influence

The anticipation of interest rate cuts by the Federal Reserve, possibly starting in March, is the third factor. Traders are factoring in these rate cuts, which could lead to increased liquidity in financial markets. This liquidity boost could benefit assets like Bitcoin and stocks, contributing to a potential surge.

Election Dynamics

Factor number four is the upcoming US presidential election. Expectations are high that the Federal Reserve might take steps to support the economy ahead of the event, potentially influencing market dynamics.

Corporate Bitcoin Adoption

The fifth factor is a global trend of companies accumulating Bitcoin in the coming months, accompanied by spot ETFs making Bitcoin more accessible. This shift, particularly in Asia and South America, is expected to expand nationally, boosted by the legitimacy brought by ETFs in the US.

In addition, the prospect of institutional treasuries allocating to Bitcoin presents a bullish narrative, adding to the optimism for price appreciation.

Risks on the Horizon
While the outlook is promising, several risks loom. The possibility of catalysts being priced in, geopolitical conflicts, or unexpected selling pressure could dampen Bitcoin’s ascent. A failure of anticipated events, like the Federal Reserve refraining from easing conditions, could trigger a significant market correction.

In this exciting Bitcoin journey, investors are navigating through a dynamic landscape, eagerly watching for the next turn in this volatile digital frontier.

Bitcoin Price Analysis
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