Bitcoin bulls get activated as the prices soar past $64,000, aiming to form new monthly highs above $68,000. While the bearish interference may not be eliminated, the bulls are expected to hold a huge dominance until it forms a new ATH At $75,000
Key Takeaways
- Bitcoin Current Status: The Bitcoin price is heading towards $65,000 after the bulls initiated the weekly trade on a huge bullish note. The validation of a rise above the bearish influence could occur soon, which may further push the price beyond the range, backed by an optimistic crypto market.
- Market Performance: Market sentiments turned bullish after the Bitcoin price, trading at . The market capitalization also increased by a similar range, while the trading volume rose by over 76%. Bitcoin’s market dominance is growing, elevating the Fear-Greed Index to 45, entering the neutral range. Meanwhile, bullish sentiments for the token are around 66%, slowly rising from the lows. With this move, the price is just 12% away from its ATH, reviving the possibility of new highs soon.
- Technical Analysis: After consolidating within a range for a prolonged period, the BTC price has triggered a breakout above the range, surpassing the 200-day Moving average. The shift in momentum is expected to elevate the levels to the next target, close to $68,000. The technicals are slowly shifting in a bullish favor, and hence the token is believed to maintain a healthy upswing.
- BTC Price Prediction: The BTC price has flipped above the bearish influence and a validation may further initiate a strong ascending trend. The token is at the foothills of a massive rise, which could elevate the levels toward a new ATH. However, the bearish interference may not be eliminated, but the bulls appear to be poised to reach $80,000 soon.
- Future Outlook: Bitcoin exchange reserves decline to new lows while the ETFs are rapidly growing. Besides, the core urges an urgent update to version 28.0, which may patch a severe vulnerability affecting older notes. Therefore, the future outlook remains largely bullish, intending to reach new highs soon.
Where will Bitcoin Price Head Next?
- After a parabolic recovery, BTC price has reached the edge of the cup and handle pattern, a bullish chart pattern, which could result in a positive breakout.
- The bulls are poised to push the prices within the final resistance zone before the ATH, between $66,600 and $72,400.
- While the Ichimoku clouds and the Supertrend remain bullish, the Moving Average Convergence Divergence (MACD) is also about to undergo a bullish crossover.
- Therefore, the BTC price appears to be poised to maintain a healthy ascending trend and eventually form a new ATH above $75,000 soon.
| Indicator | Value |
|---|---|
|
Support levels (Fibonacci, S1/S2/S3)
|
$55,481.13 / $52,205.23 / $46,902.72
|
|
Resistance levels (Fibonacci, R1/R2/R3) |
$66,086.16 / $69,362.06 / $74,664.58
|
|
50-day EMA |
$61,704.62
|
|
200-day EMA |
$60,144.13
|
|
RSI level |
60.92
|
|
MACD level (Signal Line) |
436.26 |
Bitcoin Price Prediction October 2024
The traders became highly pessimistic at the beginning of the month as the price dropped below $60,000 following the tensions growing among the global powers. However, the markets became optimistic before the CPI rates, which revived a strong ascending trend. Now that BTC price is heading toward the second half of the month, the volatility and volume are expected to increase. By the end of the month, the Bitcoin price is believed to form a new ATH and close around $75,000.
After forming a new ATH, the markets are expected to become optimistic about the next price action. The volume is expected to rise significantly, which could keep up the market sentiments for the rest of the month. However, the bears may hinder the progress of the rally, but the mounted bullish pressure may prevent a steep pullback. Therefore, the BTC price could close the monthly trade between $74,800 and $76,100.
During the last few weeks of the year, the Bitcoin price is expected to gain immense bullish momentum as the bulls begin to utilize their accumulated strength. The token may continue to remain within a price discovery phase, aiming to close the monthly trade on a bullish note, forming a new ATH. in the last few days, the price is believed to rise beyond $80,000 and close the trade around the range.
Bitcoin Price Prediction 2025
- The bulls are expected to dominate at the beginning of the year, potentially sustaining a steep upward trend.
- The BTC price could rapidly approach $80,000 and may even surpass $82,000 before the end of the first half of the year, barring any bearish activity.
- In the second half of the year, a strong upward trend is anticipated, with the bull run potentially intensifying and driving the BTC price to $100,000.
- However, the bears may intervene, causing a significant price drop, potentially bringing the levels down to around $95,000 by year-end.
- The bearish momentum over the token may strengthen at the start of the year, potentially leading to a bear market.
- BTC price could lose 60% to 70% of the gains made during the previous year’s upswing, reinforcing the bearish outlook.
- After hitting lows between $30,000 and $35,000, BTC bulls may struggle to initiate a strong rebound but could succeed in stabilizing the downward trend.
- In the final weeks of the year, increased buying volume may lead to a moderate price recovery, potentially closing the year between $45,000 and $48,000.
- Following a significant bearish attack, market participants might become more cautious, opting to closely monitor the markets rather than buying at the lows.
- The markets could remain consolidated below $60,000 throughout the first half of the year, with minimal price fluctuations.
- In the second half of the year, a slight shift in trend may occur, with increased buying volume pushing prices above $65,000.
- During the last quarter, the bullish momentum may strengthen, leading to a robust upward trend and closing the year with BTC prices between $75,000 and $80,000.
- Bitcoin price may begin to rebound with a strong positive trend at the start of the year after enduring a bear market and a steady recovery phase.
- Although bears may attempt to breach key support levels, strong positive factors could offset the downward pressure.
- As the year progresses, a substantial upward price surge becomes more probable, signaling a promising upward trend.
- This optimistic movement could see Bitcoin price stabilizing between $98,000 and $102,000, potentially surpassing $100,000 by the year’s end.
- In 2029, markets could strengthen, demonstrating greater resilience to negative forces with a notable reduction in selling pressure.
- With diminished downward pressure and sustained positive momentum, Bitcoin price might surpass $110,000, setting new highs for the ongoing bull run.
- As the year progresses, consistent market growth could bolster confidence, leading to the daily discovery of new highs.
- By the end of the year, Bitcoin price is expected to stabilize, ranging between $118,000 and $120,000.
- In 2030, Bitcoin price may steadily climb, reaching a new peak of around $125,000 in the first half of the year.
- Although this peak might be short-lived, it could lay a solid foundation for positive momentum throughout the remainder of the year.
- Following this, Bitcoin price could experience a significant surge, potentially reaching between $130,000 and $150,000 during the third quarter.
- However, this success might provoke a negative reaction, leading to a prolonged consolidation phase in a bearish market, with Bitcoin trading between $128,000 and $130,000 by year-end.
Will the Bitcoin Price Rise Again in 2024?
The Bitcoin price started the yearly trade on a bullish note, forming a new ATH above $73,700. Regardless of the interim bearish pressure, the price is expected to rise and close the 2024 trade, forming a new ATH above $74,000.
Frequently Asked Questions
Bitcoin price is expected to trade around $80,000 to $95,000 in 2025, and even potentially touch $100,000 in the same year!
Bitcoin has resumed with a strong ascending trend and is believed to remain elevated for the rest of the year to mark a new ATH.
Bitcoin price can reach $100,000 soon, which is about a 60% rise from CMP.
