Bitcoin Poised for a Strong Rally, Analyst Predicts
A well-known cryptocurrency analyst, Bluntz, believes that Bitcoin (BTC) is about to experience a significant surge, potentially reaching levels not seen since December 2021. Bluntz, who follows the Elliott Wave theory, suggests that Bitcoin is currently in the midst of a wave-three rally, which is typically the longest and strongest wave in a bullish trend. According to Bluntz’s analysis, BTC could reach $50,000 before undergoing a correction and then rallying to $52,000.
Differing Views on Bitcoin’s Future
While Bluntz is optimistic about Bitcoin’s short-term prospects, another crypto analyst named Rager has a different perspective. Rager believes that the ongoing BTC rally will not lead to a new yearly high. Instead, he expects Bitcoin to resume its upward trend after the April halving event when miners’ rewards are reduced by half. Rager hopes his prediction is incorrect and that Bitcoin exceeds expectations.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $47,323, reflecting a 2.70% increase in the past 24 hours.
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