Bitcoin Price Analysis: As BTC Closes On $100K, Bitwise Sees $500K Ahead And Traders Pile Into The Best Crypto Wallet ICO That’s Blasted Past $250k
The Bitcoin price climbed 3% in the last 24 hours to trade at $89,406 as of 02:28 a.m. EST even as trading volume fell 1% to $116.8 billion. This comes as Bitwise CIO Matt Hougan predicts Bitcoin could reach $100,000 soon. He also projects the Bitcoin price heading for a $500,000 valuation, aligning its status with gold in terms of market acceptance and stability. Bitcoin has been making massive moves in the last few days, with BTC hitting a new all-time high (ATH) of $93,477 yesterday. Bitcoin Price Could Continue Soaring The Bitcoin price trend has turned significantly bullish, as indicated by the strong recent price breakout above key resistance levels and moving averages, as well as the parabolic move in the latter part of the chart. This rally suggests strong momentum in favor of buyers, possibly pointing to further upside, though such moves can often lead to overextended conditions. The BTC/USD chart displays a clear inverse head and shoulders pattern, with the left should...