Bitcoin

<p>In a recent surge of momentum, <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> is again making headlines as it inches closer to its all-time high price, stirring excitement and speculation among investors and market analysts. Michael Van De Poppe, the CEO of MN Trading Ventures, took to social media to express his anticipation of Bitcoin potential to retest its peak value. His observation of the market indicates that if Bitcoin can sustain a price above $69,000, it might very well be on its way to challenging the record high.</p><h2 id="header-0">Analysts Compare Support and Resistance Levels</h2><p>Supporting Van De Poppe’s optimism, an analyst known as Ali provided a detailed look at the market’s support and resistance levels. The data highlights that a significant number of addresses, 1.4 million, hold around 893,000 Bitcoin within the price range of $68,220 to $70,325. In contrast, approximately 474,000 fewer addresses hold 285,000 Bitcoin at a higher price bracket, between $70,760 and $71,200. This disparity suggests that the momentum could be skewed in favour of the bulls, paving the way for Bitcoin’s price to break through the resistance and potentially establish new highs.</p><p>The statistics shared by Ali hint at a robust support level that may act as a springboard for Bitcoin’s price, setting the stage for an optimistic market outlook. As traders and investors keep a close eye on the $69K mark, the anticipation of a bullish run continues to grow.</p>

Bitcoin Edges Toward All-Time High: Analysts Weigh In

Table of Contents

BlockchainReporter

Other articles published on Apr 9, 2024

New Solana Meme Coin Surpasses $10 Million in ICO Funds – Is $SLOTH the Next 10X Gem?

Best Meme Coins to Add to Your Portfolio Now Tuesday April 9 – dogwifhat, Pepe, SonicWifHat, eTukTuk

Ripple CEO Makes Stunning Market Prediction, Here's Why April 10 Is Crucial Date for Crypto and B...

Tensor Price Prediction: TNSR Slumps 12% As Traders Turn To This Green Transport ICO For Explosiv...

Hong Kong Subsidiaries of Chinese Asset Managers Apply for Spot Bitcoin ETFs

Cat In A Dogs World: MEW Slumps 24% As New Multi-Chain Meme Coin Dogeverse Races Towards $500K On...

Join our free newsletter for daily crypto updates!