Bitcoin Price Prediction as BTC Shoots Past $70,000 Resistance – $80,000 Incoming?

The surge of Bitcoin (BTC/USD) past the $70,135 mark signifies a robust uptrend, igniting speculation about its trajectory towards $80,000. Amidst prevailing market optimism and pivotal movements, this ascent reflects a broader acceptance and growing confidence in Bitcoin’s potential as a leading digital asset. Let’s jump into Bitcoin price prediction. ,

Coinbase has highlighted concerns about
Bitcoin’s upcoming halving, suggesting it faces a challenging period due to the historically weak cryptocurrency market conditions. Despite the general optimism that halving, which reduces the reward for mining Bitcoin, usually boosts prices, Coinbase points out the need for a compelling narrative to lift the market.,The exchange recognizes Bitcoin’s enduring appeal as “digital gold” and its substantial market presence, holding a 50.6% share. Market trends suggest that price dips could spur increased buying activity.,Historical patterns, like the price surge post-2020 halving, support this view. Additionally, Coinbase’s recent legal victory in a securities case may also influence Bitcoin’s market dynamics, intertwining halving expectations with legal and market developments.,

Gold advocate Peter Schiff criticized Bitcoin as gold prices rose and Bitcoin fell, predicting gold’s ascent and Bitcoin’s decline. In response, seasoned trader Peter Brandt advised considering a broader perspective, pointing to a chart showing Bitcoin’s long-term outperformance compared to gold.,Despite Schiff’s argument that Bitcoin could lose significant market value after surpassing gold in the last 2.5 years, he also predicted a surge in gold prices due to U.S. fiscal issues. This ongoing debate reflects skepticism among gold supporters towards Bitcoin.,

Federal Reserve Governor Michelle Bowman suggests potential rate hikes, contrasting with market expectations of cuts, due to persistent inflation worries. Rising consumer costs are pressuring American households, impacting affordability and leading to increased financial strain.,With the federal funds rate influencing borrowing costs, tighter credit conditions could emerge, affecting loans and mortgages.,Other Fed officials, like Loretta Mester and Lorie Logan, advocate for keeping rates steady amidst economic uncertainties. Bowman’s cautious stance on rate cuts, fearing inflation spikes, aligns with a proactive approach to monetary policy.,


Bitcoin (BTC/USD) experienced a rise to $70,135, over 1% increase, indicating a positive market sentiment. The cryptocurrency is trading above the pivotal $68,930 mark, suggesting a potential continuation of the buying trend. Immediate resistance levels are identified at $70,320, $71,715, and $73,155, with support at $67,415, $66,055, and $65,075.,The RSI stands at 64, supporting a bullish stance, and the 50-day EMA at $68,300 further underlines this trend. A decisive move above $68,950 could reinforce the upward trajectory, while a dip below this threshold may initiate a downward correction.,

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