Recently, crypto analyst Rekt Capital shared his insights into the potential future trajectory of Bitcoin. According to his analysis, Bitcoin may not be quite ready for its next bullish leg up, which could potentially see it exceed $70,000. Rekt Capital mentioned in a social media post that Bitcoin is not currently prepared for a successful retest of the $65,000 level as new support. This retest would be crucial for Bitcoin to establish $65,000 as the new support level, but it requires a similar pattern to the one seen earlier this year in May. Rekt Capital emphasized that confirming a break back into the $65,000 to $71,500 region is essential for Bitcoin to set $65,000 as a solid support level. The failure to do so puts Bitcoin at risk of dropping below $60,000.
Crypto analyst Altcoin Sherpa recently highlighted three possible scenarios that could unfold for Bitcoin from its current price level. He suggested that Bitcoin could potentially decline to $63,000 and rebound before declining to $60,000, or it could experience a bounce after dropping to $60,000 before facing further downward pressure. However, Altcoin Sherpa remains optimistic about Bitcoin breaking above these levels without any significant pullback and continuing its upward trajectory towards $70,000.
Another crypto analyst, Dann Crypto, shared his outlook on Bitcoin’s performance in the latter part of the current bull run. He anticipates a significant rally leading up to the US Presidential elections, driven by the narrative of a possible crypto-friendly President and Vice President. Additionally, he believes that potential interest rate cuts and overall market excitement following a period of consolidation could further fuel this rally. Dann Crypto also mentioned the potential impact of Spot Ethereum ETFs as a wildcard factor that could accelerate the rally, depending on the level of demand these ETFs receive. However, he predicts that once this rally concludes, the market may experience a local top, possibly towards the end of the year.
Looking ahead, Daan Crypto, another crypto analyst, shared his long-term predictions for Bitcoin’s bull cycles. He foresees the final rally of this current bull run occurring in the latter half of 2025, following the established 4-year cycle pattern in the crypto market. Daan Crypto expressed confidence in the consistency of this cycle and believes that it will continue to influence Bitcoin’s price movements in the future.
Various crypto analysts provide unique insights into Bitcoin’s future trajectory, highlighting key price levels, potential scenarios, and long-term predictions. While opinions may differ among analysts, the overall consensus seems to suggest a positive outlook for Bitcoin’s performance in the coming months and years, with continued bullish momentum expected in the market.
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