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Bitcoin ready to explode! Crypto will surpass $64,000!

Fri 16 Feb 2024 ▪ 4 min of reading ▪ by Eddy S.
Crypto regulation

Bitcoin’s price has just broken through a major resistance on the chart by exiting flamboyantly from the blue line of the Golden Ratio Multiplier. Next obstacle: the red line located around the famous $64,100. As you can guess, nothing seems to stop BTC which appears to be driven by a fiercely bullish energy!

Bitcoin Crypto

Bitcoin, a Confirmed Bullish Trend

The chart analysis does not lie: Bitcoin has been moving within a strong bullish channel for several weeks now. The latest signal: the convincing break through the blue line of the Golden Ratio Multiplier, a major resistance on the chart. 

The next technical target: the previous all-time high of $64,100 set in November 2021. But at the current rate, Bitcoin might not stop there and could aim for $80,000 or even $100,000 this year! 

This bold projection is based on the strength of the current bullish movement, confirmed by both the analysis of the Bollinger Bands and the RSI index signaling a marked bullish trend. In short, nothing seems to be able to stop the Bitcoin rocket.

An Accelerating Crypto Adoption

Behind this technical momentum, the growing popularity of Bitcoin provides a solid foundation for new highs. Despite a volatile market, Bitcoin crypto adoption is progressing at a rapid pace.

Major financial institutions like BlackRock or Morgan Stanley have almost all made the leap in recent months. The same goes for multinationals like Microsoft, Starbucks, or Tesla, which accept payment in Bitcoin.

Meanwhile, more and more countries are starting to adopt crypto as a currency or means of payment. This is the case in El Salvador with Bitcoin and also in the Central African Republic. In short, the legitimization of Bitcoin as a store of value and means of exchange leads many investors to hold it. A constant influx that mechanically boosts the price.

Towards a Tenfold Explosion in 2024?

Certainly, risks exist, whether because of a regulatory tightening or a generalized crash of the crypto market. But the resilience demonstrated by Bitcoin makes this scenario unlikely. 

Except for a major crash, the current alignment of technical and fundamental aspects points to a tenfold explosion in price by the end of 2024. The $100,000 Holy Grail now seems within reach for the queen of cryptos!

So fasten your seatbelt, immediate boarding for flight BTC 2024 to $64,100 and beyond is about to take off.  For the most audacious, the $100,000 Holy Grail now seems within reach. The only limit is our imagination. Bitcoin has not finished surprising us in 2024 and the best moments of crypto are still to come. Hang on, it’s going to be a wild ride!

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.