It seems that Bitcoin has been able to break the important resistance, and this means that the most important digital asset out there is strong enough to grow some more. Check out the latest reports below.
Bitcoin new prediction is out
A popular crypto trader believes that Bitcoin’s recent surge still has room to grow and has set a short-term price target.
The trader, known as The Flow Horse, shared with his 183,000 followers on X social media platform that when he looks at a longer-term chart, he sees a potential 25% increase in BTC before it hits resistance.
The trader also points out that Bitcoin’s successful break of the $32,000 level indicates that another upward trend may be on the horizon for the leading cryptocurrency.
“When I zoom out, I have a hard time not seeing Bitcoin hitting at least $39,000 in the short term.
We broke out of a multi-quarter range, and have put plenty of people in a position of discomfort, wondering if they should chase or not.
It would be a rare occasion for this to not persist a little bit more before finally baiting people in at the worst possible spot.”
The Flow Horse also made sure to state the fact that one thing that could foil the strength in crypto is if something big happens in the traditional financial markets.
He also said that equity markets have already significantly corrected without having much effect.
“My only concern for crypto is if legacy does something wonky, and right now although we are well off the highs, almost no fear gauges are flashing.”
At time of writing, Bitcoin is trading at $34,689.
The recent surge of Bitcoin’s value is linked to the potential approval of a spot ETF, with the cryptocurrency appreciating towards $35,000 earlier this month.
Stay tuned for more news from the crypto space and make sure to check out the market as well. There are various optimistic predictions about the price of BTC and more.
