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- Bitcoin price could achieve new highs if it manages to surpass the resistance level of $64k
- The price crunch point is closer than any analysts in the market observed
- Analysts believe that $98k could be achieved by the end of this year, and likewise, BTC can also see $288k by the end of this year
Bitcoin price has attracted several eyes with its tremendous performance since last year. Since the beginning of this year, the digital asset has seen tremendous gains before plunging in mid-May. Although BTC price has seen notable turbulence over several months after the plunge, last Uptober it again rallied to achieve a new all-time high. Following historical data analysts in the cryptosphere have deemed that the asset will remain bullish in November and could soon achieve a new all-time high. Moreover, following the recent performance, the analyst believes that if the asset crosses the price level of $64k, then it might run to achieve a new all-time high.
Bitcoin price crunch point is closer than expected
At the beginning of this month, Bitcoin’s price managed to hold the position above the price level of $61k. Following the scenario, the performance of the digital asset was bullish for Bitcoins. However, since then the flagship cryptocurrency has continued to stay range-bound by Michaël van de Poppe. Hence, following the performance of the prices in the digital assets market, he concluded that if the level of $64,000 is surpassed, the coin would soon see its new all-time high price.
BTC tracked sideways near $61k
According to price data from TradingView, the Bitcoin price has been observed drawing some attention. Indeed, the price tracked attention as it tracked sideways about $61k. However, after multiple days of such moves, the focus from analysts was firm on the altcoin market as several tokens continued their digital assets.
According to Van de Poppe, the $64,000 price range would offer a springboard for the investors, and Bitcoin price should break though such a level conceivable.
According to analysts, Bitcoiners are chopping between $58k and $64k. In contrast, the $64k area here is the most vital, the price should break through for a new ATH. INdeed, if the position is surpassed the next resistance zone would not hit until the leading cryptocurrency had $72k.
On the other hand, the analysts in the cryptosphere also considered that there is a likelihood of $98k as monthly close. But, it seems that to achieve that level is quite hard , and the cycle might take longer than ever.
Will BTC prices be able to achieve the $100k level?
According to a Twitter user PlanB, an independent crypto analyst, the majority of respondents believe that $288k would hit before the upcoming new year. However it is tough to imagine following such data with previous bullish rallies. Still, several analysts are betting on the bullish cycle story, that is a different one.
