Bitcoin Enters ‘Boom’ Phase with Potential for $130,000 Price
Bitcoin has entered a ‘Boom’ phase after surpassing the $48,000 price level, indicating the potential for further gains. According to cryptocurrency expert Trader Tardigrade, Bitcoin could reach $130,000 or higher this year. This move coincides with Bitcoin’s weekly candle close, which achieved a new high for the first time since December 2021. Analyst Ali Martinez suggests that Bitcoin’s support levels remain strong and may outweigh resistance. He highlights a significant resistance level at $57,000.
Bitcoin Price Analysis
Currently trading at around $48,080, Bitcoin has experienced a slight daily decline but has gained 11.83% over the week and 11.31% in the last 30 days. CEO of Bitwise Invest, Hunter Horsley, believes that the true valuation of Bitcoin will be revealed in 2024 due to approved spot exchange-traded funds (ETFs) and the upcoming halving event. David Lawant, Head of Research at Falcon X, agrees and emphasizes that the market structure for Bitcoin is already improving.
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