After three bullish days in a row, the price of Bitcoin has above $59,000 and is rapidly approaching the $60,000 milestone. The overall power of the cryptocurrency is increasing to unprecedented heights as the entire trading volume of Bitcoin ETFs has crossed the $2 billion threshold.
Moreover, the prospective rate reduction and the impending halving event serve as supplementary triggers. The largest cryptocurrency has experienced a fantastic “Pre-Halving Run,” rising by about 40% this month. The price of Bitcoin is hinting at a new all-time high before to the halving as the rise gains momentum.
The expectation that the price of bitcoin will hit $100,000 is becoming closer to reality with this kind of bull run.
Bitcoin, godspeed!
When the daily chart shows three straight bullish candles, the Bitcoin bull run becomes unstoppable. The market cap has crossed the $1.1 trillion threshold, indicating that the rise is intensifying.
Tradeview is the source.
According to the trend-based Fibonacci levels, the price of bitcoin might hit $68,157 as the uptrend is ready to test the $60,000 milestone. Furthermore, Bitcoin is looking ahead with its 3.59% intraday rise hitting the $59,000 barrier and a spike in intraday trading volume. In passing, Coinglass notes that $244.12 million in liquidations have occurred in the past 24 hours, of which $139 million had been the result of short-order liquidations. Approximately 81,536 merchants were impacted by this.
Moreover, a rise in underlying bullishness is indicated by the MACD indicator’s positive crossover in the MACD and signal lines gaining space.
Will Bitcoin Achieve $100,000 in Price?
With recovery momentum increasing, there is a greater chance that Bitcoin may see a protracted high-momentum upswing. Fibonacci values, in addition to the previously cited positive indications, point to a potential next peak for Bitcoin at $96,000.
The price of Bitcoin might soar to $68,157 if the bullish breakout of the inverted head and shoulder coincides with a positive closure over $60,000.