{"id":642068,"date":"2024-09-15T17:00:42","date_gmt":"2024-09-15T17:00:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=642068"},"modified":"2024-09-15T11:55:11","modified_gmt":"2024-09-15T11:55:11","slug":"analyst-says-bitcoin-will-reach-68000-by-end-of-september-90000-in-december","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/analyst-says-bitcoin-will-reach-68000-by-end-of-september-90000-in-december\/","title":{"rendered":"Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December"},"content":{"rendered":"

Bitcoin has once again <\/span>surged past the critical <\/span><\/a>$60,000 threshold, signaling a potential shift in market sentiment as selling pressure appears to be subsiding. This development follows a period of volatility, where Bitcoin experienced a significant dip, but data from CoinMarketCap now shows that the cryptocurrency has made a remarkable 15% rebound. <\/span><\/p>\n

Related Reading: Shiba Inu Seen Exploding 1,000%-7,300%: Bold Predictions Signal Massive Growth<\/a><\/div>\n

Bitcoin hit a low of $52,590 on September 6, which triggered widespread concern among traders and investors. However, the recent recovery <\/span>has helped alleviate <\/span><\/a>the extreme fear gripping the crypto market, restoring some confidence among market participants.<\/span><\/p>\n

In a recent analysis, Captain Faibik noted that Bitcoin’s break above $60,000 is crucial to its goal of reaching $90,000 before the end of the year.<\/span><\/p>\n

Analyst Predicts Bitcoin Surge<\/b><\/h2>\n

The significance of this rebound cannot be overstated, especially given the waning optimism among many crypto analysts. This is because many analysts had<\/span> begun to reconsider<\/span><\/a> their earlier bullish predictions, with some even suggesting that Bitcoin might face <\/span>additional downward pressure <\/span><\/a>in the coming weeks. <\/span>One analyst who has<\/span> remained firmly bullish<\/span><\/a> throughout this period is Captain Faibik, who has consistently emphasized the importance of the $60,000 level in Bitcoin’s price action.<\/span><\/p>\n

In a <\/span>recent technical analysis<\/span><\/a> shared on the social media platform X, Captain Faibik emphasized that a daily close above the $60,000 mark would be a key signal of Bitcoin’s return to bullish momentum. According to Faibik, this close would mark the first step in a broader upward trend expected to unfold throughout September, potentially setting the stage for Bitcoin to reach $68,000 by the end of the month.<\/span><\/p>\n

Bitcoin is now trading at $59,975. Chart: TradingView<\/a><\/figcaption><\/figure>\n

To further support his bullish outlook, Captain Faibik shared an accompanying chart, which shows that Bitcoin\u2019s price action has been unfolding within a broadening wedge pattern since reaching its all-time high in March. Faibik noted that he is expecting a bullish breakout above this wedge in the fourth quarter of 2024. Based on his analysis, he anticipates that Bitcoin will rally toward a price target of between $88,000 and $90,000 before the end of December.<\/span><\/p>\n

\"\"<\/p>\n

 <\/p>\n

What\u2019s Going On With Bitcoin?<\/b><\/h2>\n

Bitcoin’s recent surge comes amid expectations that the US Federal Reserve will implement a 50 basis point cut in interest rates for the first time in two years. Interestingly, business intelligence company MicroStrategy also contributed to the buying pressure by purchasing an additional 18,300 BTC for $1.1 billion.\u00a0<\/span><\/p>\n

Related Reading: Ripple Moves 150 Million XRP, Fueling An 11% Price Surge<\/a><\/div>\n

At the time of writing, Bitcoin is trading at $60,200. <\/span>In a similar analysis<\/span><\/a>, Rekt Capital underscored the significance of the $60,000 level. He pointed out that the 21-week exponential moving average (EMA) is currently positioned at $60,550. Should Bitcoin bulls manage to turn this EMA into a support level, it could provide the necessary momentum to break above a series of lower highs that have been forming since July.<\/span><\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has once again surged past the critical $60,000 threshold, signaling a potential shift in market sentiment as selling pressure appears to be subsiding. This development follows a period of volatility, where Bitcoin experienced a significant dip, but data from CoinMarketCap now shows that the cryptocurrency has made a remarkable 15% rebound. Related Reading: Shiba Inu Seen Exploding 1,000%-7,300%: Bold Predictions Signal Massive Growth Bitcoin hit a low of $52,590 on September 6, which triggered widespread concern among traders and investors. However, the recent recovery has helped alleviate the extreme fear gripping the crypto market, restoring some confidence among market participants. In a recent analysis, Captain Faibik noted that Bitcoin’s break above $60,000 is crucial to its goal of reaching $90,000 before the end of the year. Analyst Predicts Bitcoin Surge The significance of this rebound cannot be overstated, especially given the waning optimism among many crypto analysts. This is because many analysts had begun to reconsider their earlier bullish predictions, with some even suggesting that Bitcoin might face additional downward pressure in the coming weeks. One analyst who has remained firmly bullish throughout this period is Captain Faibik, who has consistently emphasized the importance of the $60,000 level in Bitcoin’s price action. In a recent technical analysis shared on the social media platform X, Captain Faibik emphasized that a daily close above the $60,000 mark would be a key signal of Bitcoin’s return to bullish momentum. According to Faibik, this close would mark the first step in a broader upward trend expected to unfold throughout September, potentially setting the stage for Bitcoin to reach $68,000 by the end of the month. To further support his bullish outlook, Captain Faibik shared an accompanying chart, which shows that Bitcoin\u2019s price action has been unfolding within a broadening wedge pattern since reaching its all-time high in March. Faibik noted that he is expecting a bullish breakout above this wedge in the fourth quarter of 2024. Based on his analysis, he anticipates that Bitcoin will rally toward a price target of between $88,000 and $90,000 before the end of December.   What\u2019s Going On With Bitcoin? Bitcoin’s recent surge comes amid expectations that the US Federal Reserve will implement a 50 basis point cut in interest rates for the first time in two years. Interestingly, business intelligence company MicroStrategy also contributed to the buying pressure by purchasing an additional 18,300 BTC for $1.1 billion.\u00a0 Related Reading: Ripple Moves 150 Million XRP, Fueling An 11% Price Surge At the time of writing, Bitcoin is trading at $60,200. In a similar analysis, Rekt Capital underscored the significance of the $60,000 level. He pointed out that the 21-week exponential moving average (EMA) is currently positioned at $60,550. Should Bitcoin bulls manage to turn this EMA into a support level, it could provide the necessary momentum to break above a series of lower highs that have been forming since July. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":642102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,6664,3504,3505],"class_list":["post-642068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto","tag-price","tag-price-analysis"],"acf":[],"yoast_head":"\nAnalyst Says Bitcoin Will Reach $68,000 By End Of September<\/title>\n<meta name=\"description\" content=\"Bitcoin has once again surged past the critical $60,000 threshold, signaling a potential shift in market sentiment as selling pressure appears to be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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