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<p>The post <a href="https://coinpedia.org/news/popular-crypto-trader-sets-bold-bitcoin-price-targets-eyes-for-79k/">Popular Crypto Trader Sets Bold Bitcoin Price Targets, Eyes for $79k</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Crypto markets are still grappling with ups and downs, keeping traders and investors on their toes about what might happen next. Yesterday saw a slight uptick, with the global crypto market cap reaching $2.54 trillion, a 0.35% increase. Despite the turbulence, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> has managed to top the $68,687 mark, showing a 1.37% rise over the past few days.</p> 
<h2 class="wp-block-heading" id="h-major-price-rally-for-btc"><strong>Major Price Rally For BTC</strong></h2> 
<p>In the crypto world, many believe that it’s not a question of if, but when Bitcoin will reclaim its all-time high (ATH). Renowned crypto analyst Ali Martinez offers a technical viewpoint, suggesting that Bitcoin might be on the cusp of a major price increase.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> currently hovers around the +0.5σ pricing band at $66,800. If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> can hold above it, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> will likely rise to test the 1.0σ pricing band at $79,600. <a href="https://t.co/nYPhs0zMr2">pic.twitter.com/nYPhs0zMr2</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1797297611885457818?ref_src=twsrc%5Etfw">June 2, 2024</a>
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<p>Using the MVRV Extreme Deviation Pricing band chart, Martinez indicates that Bitcoin is currently hovering around the +0.5 Standard Deviation mark. This technical position places Bitcoin’s price potential at approximately $66,800.</p> 
<p>Martinez’s analysis suggests that <a href="https://coinpedia.org/news/cryptoquant-ceo-suggests-bitcoin-mirroring-mid-2020-trends-is-the-next-bull-run-ahead/" target="_blank" rel="noreferrer noopener">Bitcoin could be poised</a> for a significant rally. His insights fuel optimism among crypto enthusiasts, reinforcing the belief that Bitcoin’s return to its ATH is not a matter of if, but when. His technical perspective suggests Bitcoin could reach as high as $79,591.03 at a standard deviation of 1.</p> 
<h2 class="wp-block-heading" id="h-bullish-and-bearish-targets">Bullish and Bearish Targets</h2> 
<p>Echoing a similar stance, a prominent figure in the crypto trading world recently shared his latest price targets for Bitcoin. In a tweet, MMCrypto outlined two possible scenarios for Bitcoin’s price trajectory.</p> 
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   <p lang="en" dir="ltr">Bullish target: $74‘000<br>Bearish target: $62‘200</p>— MMCrypto (@MMCrypto) <a href="https://twitter.com/MMCrypto/status/1797448078057992619?ref_src=twsrc%5Etfw">June 3, 2024</a>
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<p>Firstly, the trader predicts that Bitcoin could surge to $74,000. This <a href="https://coinpedia.org/price-analysis/bitcoin-poised-for-a-massive-move-analysts-see-btc-to-surge-by-178-soon/" target="_blank" rel="noreferrer noopener">bullish target is based</a> on a strong inflow of spot Bitcoin ETF products from BlackRock, Fidelity Investments, and Grayscale.</p> 
<p>On the flip side, MMCrypto sets a bearish target at $62,200, indicating a potential downturn. Such a scenario could lead traders to make strategic adjustments to capitalize on the lower price. This drop could also present a buying opportunity for long-term investors, allowing them to acquire Bitcoin at a reduced price before the next upcoming surge.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin Price Prediction 2024-2030: Will BTC Price Cross The $100K Milestone Post-Halving?</a></p>

Popular Crypto Trader Sets Bold Bitcoin Price Targets, Eyes for $79k

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