Bitcoin Rally Continues: Analyst Predicts $70,000 Target Soon
Bitcoin
BTC within inches away from its peak | Source: Crypto Jelle on X
As a result, the analyst has predicted the asset to reach “$70,000 in only a matter of time.” Furthermore, he has urged the community to be patient as this is the “name of the game.”
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Ad
Next 100x SOL Meme Coin? Claim the FREE Airdrop!
Get Free $SMOG
Bitcoin News
Breaking News: BREAKING: Bitcoin Price Soars To New All-Time High Above $69,000
Bitcoin
Bitcoin Rally Continues: Analyst Predicts $70,000 Target Soon
Godspower Owie by Godspower Owie March 5, 2024
Bitcoin continues to maintain its momentum toward the upward trajectory, touching the $68,000 price mark earlier today, leading to speculations about how long it will take to hit a new peak.
Bitcoin To Reach $70,000 In A Matter Of Time
With the price action of Bitcoin today, several crypto analysts are bullish about BTC as they believe that the crypto asset could reach a new peak very soon. The digital asset recently touched the $68,000 threshold for the first time in nearly 3 years, placing it just short of capping off a notable recovery.
Related Reading: Bitcoin Proves European Central Bank Wrong: Hits All-Time High Against Euro
In a post on the social media platform X (formerly Twitter), Cryptocurrency analyst and enthusiast Crypto Jelle has expressed his bullish optimism toward BTC with the community. His predictions examine Bitcoin’s current price position and its potential to surpass its all-time high.
No KYC Casino and Sportsbook with up to 300% match bonus + 175 Free Spins, and Wager Free Cashback. Play now at ROLR.IO!
According to the crypto expert, the price of BTC is just “inches away” from reaching unprecedented heights. He pointed out that the coin tried to break through its current peak but was unsuccessful.
Additionally, he noted that the crypto asset is presently “retesting the 4-Hour 25 Exponential Moving Average (EMA) and the 50 Relative Strength Index (RSI).” Nonetheless, crypto Jelle believes that “both trends are good entries that could trigger a bounce” to a new level.
Bitcoin
BTC within inches away from its peak | Source: Crypto Jelle on X
As a result, the analyst has predicted the asset to reach “$70,000 in only a matter of time.” Furthermore, he has urged the community to be patient as this is the “name of the game.”
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
The post read:
Bitcoin is within inches of a new all-time high. Rejected on its first attempt, but now retesting the 4-Hour 25E MA and the RSI 50 level. Both tend to be good entries for a bounce. $70,000 is a matter of time, and patience remains the name of the game.
As Bitcoin continues to rally, the token’s fear and greed index seems to have also skyrocketed. Jelle has also highlighted in another post that BTC’s “fear and greed index are presently reaching extreme levels.”
However, this does not imply that we will be seeing a pullback, according to the expert. He then clarified that as of the time Bitcoin surpassed $20,000, the fear and greed index was higher than it is now while urging investors not to be “shaken out” of the market.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
BTC Could Hit $150,000 Before 2024 Closes
The head of research at Fundstrat, Tom Lee, has also shared his optimism toward BTC in an interview with CBNC. Tom Lee’s optimistic overview came in light of the asset drawing close to its peak.
Related Reading: Bitcoin Rally: Crypto Analyst Says New Peak Is Within Arms’ Reach
According to Lee, he believes that Bitcoin is heading straight back towards its “long-term trendline.” Due to this, he has placed his price target at “$82,000 in the short term.” Lee also predicted a long-term price for BTC, putting his target at “$150,000 before the year closes.”
Presently, Bitcoin is situated at $66,710, up by over 2% in the past day, and above 18% in the past week. CoinMarketCap shows that its market cap and trading volume are up by 2.70% and 70.61% in the past day, respectively.
Bitcoin
BTC trading at $66,772 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: bitcoinbtcbtcusdBTCUSDTCBNCCrypto JelleEMAExponetial Moving AverageFundstratRelative Strength IndexRSITom Lee
Godspower Owie
Godspower Owie
My name is Godspower Owie and i am an employee for Bitcoinnist and NewsBTC news outlet. Sometimes i like to picture myself as an explorer, this is because i like visiting new places, i like learning new things (useful things to be precise), i like meeting new people - people who makes an impact in my life no matter how little it is. I cherish my time, my work, my family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, i chase dreams.
Related Posts
Bitcoin Supercycle
Bitcoin Mining Firm CEO Predicts Start Of ‘Supercycle’, What It Means
March 5, 2024
Bitcoin
Bitcoin On The Brink, Price Soars Above $68,000 – Will BTC Break Its 2021 Record?
March 5, 2024
bitcoin market cap all-time high
$1.3+ Trillion: Bitcoin Market Cap Sets New Record All-Time High
March 4, 2024
Bitcoin
Bitcoin Will Reach A New All-Time High This Week, Matrixport Head Of Research Says
March 4, 2024
Bitcoin
Bitcoin Crossroads: Analyst Identifies Level Set To Determine Next Move
March 4, 2024
A new Bitcoin all-time high before the halving: is it possible?
A new Bitcoin all-time high before the halving: is it possible?
March 4, 2024
Premium Partners
Top Casinos
BitStarz
BitStarz
Review · Visit
Trust Dice
Trust Dice
Review · Visit
Marsbet
Marsbet
Review · Visit
mBit
mBit
Review · Visit
Inmerion
Inmerion
Review · Visit
Bets.io
Bets.io
Review · Visit
Press Releases
BloFin Announces Platinum Sponsor of TOKEN2049 Dubai 2024
8 mins ago
Bitcoin ETF Developments Could See Memeinator’s...
1 hour ago
Dogwifhat WIF Price Increases Over 300% In a Week, Analysts...
2 hours ago
Tether USDT (USDT) Bulls Predict 30x Surge with Kelexo...
3 hours ago
Speculation on Ethereum (ETH) Maintaining $3,600 Mark...
3 hours ago
About Us
NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.
We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
Disclaimer
The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Cryptocurrency news
Bitcoin
Ethereum
Ripple
Chainlink
Cardano
EOS
Tezos
Technical Analysis
Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Chainlink (LINK)
Cardano (ADA)
Tezos (XTZ)
Company
Advertising
Comments Policy
Privacy Center
Disclaimer
Sitemap
About Us
Contact
© 2024 NewsBTC. All Rights Reserved.
News
Analysis
Learn
Directory
Casinos
Play Games
Private Casino
Predict BTC price
Huge Win
ADVERTISE
© 2024 NewsBTC. All Rights Reserved.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree