Bursting into bullish territory once again, Bitcoin has shattered the $70,000 glass ceiling, subtly underlining its unfaltering trajectory towards a higher valuation. This kickstarts an optimistic surge in cryptocurrency circles, as the preeminent cryptocurrency targets the coveted $82,000 tier.
In the aftermath of Bitcoin’s most recent rally, noted cryptocurrency savant and Bitcoin advocate, Crypto Jelle, has articulated optimistic projections for the digital asset. Determined in his prognosis, Jelle believes Bitcoin is set to lean towards a heavy-hitting price target of $82,000 in the short run.
Detailing the journey thus far, Jelle traced Bitcoin’s recent upturn back to a false breakout which saw the digital coin revisit the 2021 cycle highs before successfully regaining its lost momentum. Bitcoin now faces one more hurdle to vault over, resulting from said retest.
In his astute analysis, Jelle claimed that the trigger for a sprint towards a new peak would be the digital currency’s ability to break free and maintain a steady tally above $71,500. Therefore, in light of these developments, Jelle envisages an imminent rally, hence pinpointing Bitcoin’s next stop to be in the proximity of $82,000.
Addressing anxieties prevalent in the crypto world, Jelle recognized that some investor eyes remain fixed on the forthcoming 3% move, even while the higher timeframe chart spawns greater optimism. As such, he endorsed patience for investors and reiterated faith in Bitcoin’s promising growth scope in the imminent future.
With the much-anticipated halving event expected to transpire this month, Jelle’s prophecy may unfold within a relatively short timeframe. Historically, halvings have wielded a profound impact on the digital coin’s value. If this year’s analogous event aligns with past trends, Bitcoin could potentially catapult to $82,000 within a matter of weeks and potentially ascend even further. Several market watchers posit this event as a launchpad, propelling Bitcoin to as high as $150,000 before the year wraps up.
At press time, Bitcoin was pegged at $70,344, showing a robust 1.84% hike in the preceding 24 hours. In tandem, its supreme market cap, alongside its trading volume, also soared, registering increases of 1.87% and 13% respectively within the same timeframe.
As Bitcoin garners strength and primes for a price recuperation, bullish predictions regarding its trajectory are beginning to seep into the market outlook. Analyst Adrian Zidanic is of the belief that Bitcoin will decisively surmount the $80,000 mark.
On Tony Edward’s Thinking Crypto segment, Edward homed in on Zidanic’s prognosis where he identified an emerging bullish ascending triangle within Bitcoin’s ongoing consolidation phase. Zidanic expects an imminent breakout, placing his wager on $86,500 as the next price target for Bitcoin. His projection leaves room for a more than likely bullish scenario panning out in the approaching month.
Scrutinizing the chart, Edward exudes confidence that the projected price could materialize in the post-halving period. Edward envisions a further climb to $90,000, underscoring a price range between $85,000 and $90,000 and urging the crypto community to exercise patience.
For educational purposes only, this analysis aims to inform and not act as financial advice. Considerable risk accompanies investment activities, hence personal discretion is heavily advised. The information contained herein does not reflect NewsBTC’s investment views. The user is wholly responsible for their actions based on the information provided.
