Bitcoin Price Analysis? Top Crypto Analyst Predicts $83,000 Price Target
The post Bitcoin Price Analysis? Top Crypto Analyst Predicts $83,000 Price Target appeared first on Coinpedia Fintech News
Despite multiple crashes in recent months, expectations for Bitcoin’s price remain high. Crypto analyst Mikybull Crypto predicts that Bitcoin could soon reach a new all-time high of around $83,000. This raises the question: Could this be the beginning of a new bull run?
Bitcoin Price To Surge $83,000Recent market trends have shown Bitcoin experiencing a notable recovery. Over the past 24 hours, Bitcoin’s price has increased by 3% and has bounced back by 7.5% from a low of $52,859 recorded earlier in September.
Meanwhile, this rally has caught the attention of many, including Mikybull, who sees a bullish trend continuing soon. As per the Milkybull crypto analysis, his prediction is based on a bullish head-and-shoulders reversal pattern observed in 2-day BTC/USDT charts.
Mikybull this prediction aligns with his previous analysis, which identified a bullish diamond formation on Bitcoin’s 8-hour time frame. Mikybull’s analysis indicated that this pattern could drive Bitcoin’s price to approximately $83,387, reinforcing his prediction of a surge to $83,000.
Contrasting View AnalysisMikybull’s bullish prediction contrasts with veteran trader Peter Brandt’s earlier target of $73,300. According to Brandt, for Bitcoin to signal a full market recovery and ignite a long-term bull run, it needs to break its previous all-time high.
His analysis suggests that Bitcoin must surpass key resistance levels to shift market sentiment and confirm a true reversal.
Bitcoin Price AnalysisLook at the bitcoin price analysis BTC recently faced resistance at the $58,041 level. If it successfully breaks this resistance, we could see the price surge towards the next resistance level of $60,000.
On the other hand, if Bitcoin falls below the $54,000 mark, it could test lower levels, potentially reaching $52,000.
As of now, Bitcoin is trading at around $57,341, showing a 4% increase in the last 24 hours. Meanwhile, the trading volume has surged by 43.8% during the same period, bringing its market cap to $1.13 trillion.
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