2024

Long

Bitcoin

Resistance

While the leading cryptocurrency Bitcoin exceeded $ 57,000 after a long time, new high levels for BTC began to be discussed. 
At this point, while $ 60,000 levels are targeted for BTC, new predictions continue to come from analysts. 
Related News: <a href="https://en.bitcoinsistemi.com/the-famous-analyst-who-holds-the-first-target-on-bitcoin-announces-his-next-bullish-price-target/" target="_blank" rel="dofollow">The Famous Analyst Who Holds the First Target on Bitcoin Announces His Next Bullish Price Target!</a> 
Another prediction comes from CryptoQuant analyst Mac_D, who said that the next target price for BTC could be $68,000. 
Stating that Bitcoin broke the average purchase price of long-term investors of 2-3 years, the analyst argued that the only price that can act as forward resistance for BTC may be $ 68,000, the highest level of the last cycle. 
<blockquote> 
 “Bitcoin has broken through resistance, which is the average purchase price for investors holding the 2-3 year long term, and bullishness looks likely for BTC. 
 Realized Price – UTXO Age Bands indicator shows the average purchase price by BTC holding period group. 
 According to this indicator, the level of $48,900, which is the average purchase price of long-term investors who invested in the last bull rally, is seen to be broken. 
 In short, investors who began holding assets from the last cycle's bull rally saw the 2-3 year investor average purchase price of $48,900 act as strong resistance. 
 However, in the last rise, this level was broken and the BTC price rose significantly, exceeding $ 55,000. 
 However, the only price that could act as resistance going forward for Bitcoin would be the recent cycle high of $68,000. 
 “Going forward, US institutional investors will continue to increase buying pressure through spot BTC ETFs, and even if a crash occurs due to unexpected macro and crypto market events, it seems very likely that the Bitcoin price will recover like a spring.” 
</blockquote> 
Bitcoin continues to trade at $57,015 at the time of writing. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Breaks 2-3 Year Long Term Holder Resistance Price, Upside Likely 
 “BTC price has rallied significantly, rising to $55K, the only price that may act as resistance going forward is the last cycle high of $68K.” –&nbsp;By <a href="https://twitter.com/MAC_D46035?ref_src=twsrc%5Etfw">@MAC_D46035</a> 
 Full post <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/a4Wdsqhwlj">https://t.co/a4Wdsqhwlj</a> <a href="https://t.co/VE0TX2lj2L">pic.twitter.com/VE0TX2lj2L</a> 
 — CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1762445410688225528?ref_src=twsrc%5Etfw">February 27, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/will-bitcoin-continue-its-rise-whats-the-next-target-for-btc-cryptoquant-analyst-explained/">Will Bitcoin Continue Its Rise? What's the Next Target for BTC? CryptoQuant Analyst Explained!</a>

Will Bitcoin Continue Its Rise? What's the Next Target for BTC? CryptoQuant Analyst Explained!

Bitcoin Sistemi EN

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