Convergence

Bitcoin

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-potential-ascent-to-170000-predicted-by-market-analyst">Bitcoin’s Potential Ascent to $170,000 Predicted by Market Analyst</a><br></p>
<p style="text-align: justify"> Following a rebound from $59,000, <a href="https://en.bitcoinhaber.net/ark-invest-continues-to-shift-from-bito-to-its-own-arkb-bitcoin-etf">Bitcoin</a> has surged past the $72,000 threshold, signaling a major phase in its parabolic trajectory, as per analyst Kyle du Plessis. With certain technical indicators pointing toward a significant climb, Plessis anticipates Bitcoin hitting as high as $170,000 in the forthcoming period. </p> 
<h2 id="analyzing-bitcoin-s-bullish-patterns">Analyzing Bitcoin’s Bullish Patterns</h2> 
<p style="text-align: justify"> Kyle du Plessis has identified a pivotal moment in Bitcoin’s market pattern, indicating readiness for a substantial bull market. As Bitcoin recovers and initiates the fourth stage of its parabolic trend, the analyst expects substantial short squeezes that could push the <a href="https://en.bitcoinhaber.net/canadian-interest-in-cryptocurrency-investments-declines-survey-finds">cryptocurrency</a>‘s value up drastically. Plessis also observes that the positive price action in Bitcoin has spilled over to various altcoins, which have started to gain momentum. </p> 
<p style="text-align: justify"> Taking cues from the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), Plessis reinforces his bullish outlook. These indicators are currently aligned in a way that supports his projection for Bitcoin’s potential rise to the $170,000 mark. </p> 
<h2 id="potential-catalysts-for-crypto-market-growth">Potential Catalysts for Crypto Market Growth</h2> 
<p style="text-align: justify"> In Plessis’s view, there are key upcoming events that could act as catalysts for further market rallies. Among these is Bitcoin’s halving and <a href="https://en.bitcoinhaber.net/ethereum-eyes-major-price-surge-as-investors-withdraw-coins-from-exchanges">Ethereum</a>‘s anticipated upgrade, both of which have not yet transpired. He advises the crypto community to prepare for these events that could spur significant price movements. </p> 
<p style="text-align: justify"> In the short run, Plessis sets a target for Bitcoin to reach the $85,000 level soon, despite some predictions of a retreat to the $50,000 region. He underscores the preparedness of the leading cryptocurrency to sustain its gains. At present, Bitcoin has hit a new all-time high of $71,694 and climbed further, setting another record at $72,380, with the price hovering around $72,141.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-potential-ascent-to-170000-predicted-by-market-analyst">Bitcoin’s Potential Ascent to $170,000 Predicted by Market Analyst</a></h5>

Bitcoin’s Potential Ascent to $170,000 Predicted by Market Analyst

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