Greed

Based

April

Arthur

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-dynamics-and-analyst-predictions-2/" data-wpel-link="internal">Bitcoin’s Price Dynamics and Analyst Predictions</a> 
<a href="https://en.coin-turk.com/significant-growth-in-bitcoin-wallets-holding-over-1000/" data-wpel-link="internal">Bitcoin</a> (BTC) has been moving within a narrow range under pressure since it crossed the psychologically significant threshold of $60,000 on May 3. Experienced cryptocurrency analyst Adrian Zdunczyk made a notable statement that the largest cryptocurrency could surpass the $70,000 level this month, a level not seen since April 12. 
<h2 style="text-align: justify" id="strong-will-bitcoin-rise-strong">Will Bitcoin Rise?</h2> 
On the social media platform X, known as crypto_birb, cryptocurrency analyst Adrian Zdunczyk told his followers today that he expects Bitcoin’s price to exceed the $70,000 mark within this month. The analyst pointed out that the rising 200-week and 50-week moving averages indicate a <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">bull </a><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-349026" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-BTC-Kripto-Para.png" alt="" width="550" height="749"> 
Zdunczyk added that the 200-week and 50-week moving averages now form a strong support level. He also noted that the Crypto Fear and Greed Index signals “greed” for market sentiment and that mining sales have halted. 
It is known that the 200-day moving average has risen above $50,000 this week, reaching an all-time high. Bitcoin pioneer Anthony Pompliano highlighted this development, stating, “Don’t let Bitcoin’s sideways movement lull you. The long-term thesis remains as strong as ever,” emphasizing the significance of this change. 
Another cryptocurrency analyst and trader, Crypto Caesar, pointed out a debatable situation where Bitcoin is forming a large cup and handle formation on the weekly timeframe. Crypto Caesar commented, “If Bitcoin starts to climb above ATHs this summer, then I expect a strong upward rally and potentially a shorter cycle.” 
Earlier this week, analysts at the leading cryptocurrency exchange Bitfinex reported that some on-chain indicators suggest that selling pressure from short-term <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> may be decreasing. Former BitMEX CEO Arthur Hayes noted that Bitcoin’s recent drop to $56,800 corresponds to the bottom and predicted that the market will remain between $60,000 and $70,000 until August. 
<h2 style="text-align: justify" id="strong-based-on-past-trends-70-000-on-the-table-strong">Based on Past Trends, $70,000 on the Table</h2> 
Considering previous market cycles, Bitcoin’s average gains in May are around 15%. The largest cryptocurrency opened the month at $60,600, suggesting that the estimated target level by the end of the month is approximately $70,000. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-dynamics-and-analyst-predictions-2/" data-wpel-link="internal">Bitcoin’s Price Dynamics and Analyst Predictions</a></h5>

Bitcoin’s Price Dynamics and Analyst Predictions

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