Cryptocurrency analysts are closely monitoring Bitcoin‘s trajectory, suggesting it could hit unprecedented levels should it breach a crucial resistance point. Inmortal, a trader with a considerable following on social media platform X, believes that crossing the $64,000 threshold could trigger a substantial price surge.
What Does Inmortal Predict for Bitcoin?
Inmortal asserts that Bitcoin’s recent downturn has established a local bottom, with the price dropping from around $66,000 to $60,000 in early October. He interprets this decline as a positive indicator, arguing that if Bitcoin surpasses $64,000, it will likely set a new all-time high.
How Does Kaleo View the Market?
Kaleo foresees a potential dip in Bitcoin’s price, predicting it may slide to between $57,000 and $58,000 shortly. Nevertheless, he remains optimistic, suggesting that a robust recovery could follow, particularly post-elections.
Currently, Bitcoin is valued at $61,948, reflecting a 2.1% increase within the last 24 hours. This volatility showcases the wide range of predictions analysts are making about the cryptocurrency’s future.
- Inmortal identifies two key points for long-term BTC investment: recognizing swing failure patterns around $60,000 and confirming acceptance above $63,000.
- Kaleo recommends accumulating Bitcoin during market dips, emphasizing that such investments should yield gains regardless of short-term fluctuations.
As market predictions diverge, investors are urged to maintain vigilance and stay informed about ongoing trends. With Bitcoin’s volatility influenced by various factors, conducting thorough research and employing solid risk management practices remains essential for successful investing.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
