November 5, 2024

Bitcoin will reach $ 135,000 in the current market cycle

Bitcoin will reach $ 135,000 in the current market cycle

Bitcoin will rise to $135,000 in the current cycle, analyst Willy Wu said on the Keiser Report show. According to him, onOver the course of 10 years of the coin’s existence, each time its rate, setting a new maximum, rose approximately 35 times relative to the average cumulative value. RBC Crypto writes about this.

Now this method of calculation suggests thatthe first cryptocurrency should go up to around $ 50,000, Wu added. But the longer its price remains at the current level, the higher the aggregate average value becomes, and the stronger the growth in the cost of the bitcon will be, the expert explained. He suggested that in the future it could rise to $ 100,000, or even $ 250,000.

“You can increase the total average by 35 timesthe value of the price - and it actually reached every peak in the ten-year history of bitcoin - now this value is above $ 50,000 and continues to grow. ”

“If you guess, it will cost $ 100,000; II think that a more robust forecast will be $ 135,000, based on the cycle time and a 35-fold average. "I look at a range of $ 100,000 to $ 250,000 depending on how long this bull market lasts."

Analyst also expects Bitcoin price to riseCoindesk portal Omkar Godbole. In his opinion, the coin rate may soon rise to the resistance level of $9075. If it is overcome, the next target for the asset price will be $9,312, the expert specified.

He added that the bitcoin value growth scenariowill be in question if it falls below the support level of $ 8720. Here is a 200-day moving average that prevents the coin from falling in price, Godbow explained.

If this level fails, Bitcoin will continueGet cheaper to a local minimum of $ 8410, the analyst predicted. But he called such a development unlikely, since the value of the MACD histogram is gradually growing, which indicates an increase in the strength of the buyer.

At the moment, Bitcoin is trading at around $ 8750, in 24 hours it has fallen in price by 0.2%. Daily coin trading volume decreased by 15%, to $ 37 billion.

Also note that Max Kaiser, founderHeisenberg Capital and the host of the Keiser Report show predicted an increase in the cost of bitcoin to $ 400,000. The coin will go up due to halving and the reluctance of miners to sell it at the current rate, the entrepreneur believes.

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