The recent growth in the value of Bitcoin continues to amaze experts and investors. The world’s leading cryptocurrency reached $108,000, breaking through the last resistance. This is a significant event for the entire digital currency market.
Growth Targets
Analysts and traders predict further growth in the Bitcoin rate. Targets are $116,000 and above. In the short term, a “breakout top” at $128,000 is expected.
Volatility and Support
Volatility increases along with the growth of the rate. After reaching $108,000, the BTC/USD pair fell by almost $1,000. However, the support level is approaching $90,000. Although the likelihood of a retest is decreasing, some experts highlight moving averages as potential retest zones for long-term support.
Analysts’ Forecasts
Traders and analysts base their forecasts on current trends. They suggest that the decline in the price of Bitcoin from new all-time highs will be less than 1.5%.
Renowned analyst Michael van de Poppe expressed the opinion that new all-time highs are approaching faster than expected. Experts Merlein and Henry also share their views on short-term target prices and support zones.
Monitoring the development of the cryptocurrency market remains relevant for many investors. Follow the news and analytics so as not to miss important moments.
