Donald Trump

Long

Resistance

TL;DR
<ul>
 <li>Analysts share optimistic BTC price predictions. One trader thinks a parabolic increase of $300K is possible sometime next year.</li>
 <li>The US presidential election on November 5 may drive BTC volatility due to candidates’ contrasting crypto policies.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-10-btc_cb-15-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTC_CB-15.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="new-peak-under-this-condition">New Peak Under This Condition</h2>
Bitcoin’s price has been one of the hottest topics in the crypto space in the past few days. It<a href="https://cryptopotato.com/bitcoin-price-flirts-with-a-new-ath-leaving-over-100-million-shorts-liquidated/" data-wpel-link="internal" rel="noopener noreferrer nofollow"> pumped</a> to as high as $73,600 (just $150 away from tapping a new all-time high) on October 29 before slightly retreating to its current $72,200 (per CoinGecko’s data).
<figure id="attachment_368590" aria-describedby="caption-attachment-368590" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-368590" src="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13.png" alt="BTC Price" width="572" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13.png 1045w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13-300x210.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13-1024x716.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13-768x537.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-13-50x35.png 50w" sizes="(max-width: 572px) 100vw, 572px"></a>
 <figcaption id="caption-attachment-368590" class="wp-caption-text">
 BTC Price, Source: CoinGecko
 </figcaption>
</figure>
Somewhat expectedly, the impressive performance caught the eye of numerous industry participants, many of whom predicted that a fresh peak might be just around the corner. One of those who chipped in is the popular X user Michael van de Poppe. He <a class="editor-rtfLink" href="https://x.com/CryptoMichNL/status/1851904444255949276" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">claimed</a> BTC has recently consolidated before “continuing towards new ATHs.”
The analyst believes the asset will remain at the forefront of gains if it stays above the critical resistance level of $70,000.
The investor and BTC maxi Fred Krueger also gave his two cents. He <a href="https://x.com/dotkrueger/status/1851945890509889538" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">remarked</a> that the primary cryptocurrency is still below “the power law trendline of 75ish,” envisioning a gigantic surge to $300,000 sometime next year. “Don’t even think of selling any of your Bitcoin,” he advised.&nbsp;
Earlier this week, Mikybull Crypto <a class="editor-rtfLink" href="https://cryptopotato.com/bitcoin-price-prections-this-important-metric-suggests-incoming-ath-for-btc-analyst/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">noted</a> that BTC experienced a so-called “golden cross.” This technical chart pattern occurs when the asset’s short moving average (often the 50-day) crosses above its long-term moving average (for example, the 200-day). The emergence of a “golden cross” contrasts with a “death cross” and could be a precursor of a further move to the upside.&nbsp;
<h2 id="span-data-preserver-spaces-true-enhanced-volatility-incoming-span">Enhanced Volatility Incoming?</h2>
BTC may experience substantial price swings as soon as next week due to the upcoming US presidential elections (scheduled for November 5). 
Voters will have to choose between Republican Donald Trump and Democrat Kamala Harris. The former made a U-turn earlier this year, showing huge support for the cryptocurrency sector.&nbsp;For example, he&nbsp;<a href="https://cryptopotato.com/donald-trump-says-bitcoin-will-likely-overtake-gold-one-day-live-at-bitcoin-2024/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">promised</a> to let BTC thrive and fire the SEC’s Chairman, Gary Gensler (considered a big enemy of the industry), should he emerge victorious.&nbsp;
Harris, on the other hand, has not been that vocal on the matter. Earlier this month, she finally mentioned the crypto sector, <a class="editor-rtfLink" href="https://cryptopotato.com/kamala-harris-advocates-for-pro-crypto-regulations-but-fails-to-provide-details-again/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">advocating</a> for a comprehensive crypto regulatory framework to protect “black men and others” who participate in the market. However, she did not provide clear details on the potential rules.&nbsp;
That said, it will be interesting to see who will enter the White House as a winner and how the market will react to the news.&nbsp;
The post <a href="https://cryptopotato.com/bitcoin-btc-price-to-hit-new-ath-as-long-as-it-stays-above-this-resistance-zone-analyst/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price to Hit New ATH as Long as It Stays Above This Resistance Zone (Analyst)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin (BTC) Price to Hit New ATH as Long as It Stays Above This Resistance Zone (Analyst)

Table of Contents

CryptoPotato_News

Other articles published on Oct 31, 2024

Truflation Introduces Index Tracking Eight Popular Memecoins

BlockDAG’s 100% Bonus Code Out As Presale Crosses $105.5M While Hachiko Gains Traction & ApeCoin ...

Trump’s Re-election Unlikely to Favor Bitcoin — Arthur Hayes

BlackRock’s iShares Bitcoin Trust Achieves Record High Net Inflows

Top Trader Builds Portfolio with RCOF, PEPE, and NEIRO Picks

New Crypto Disruptor Alert If You Missed On Celestia! Get In Now Before Wall Street Takes Notice

Join our free newsletter for daily crypto updates!