Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-significant-price-surge-3/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Significant Price Surge</a><br></p>
<p style="text-align: justify">The world’s leading cryptocurrency <strong>Bitcoin</strong> has been in a consolidation phase for the last 100 days, staying below $72,000. This prolonged stability phase is often seen as a period where the market builds pressure. Additionally, when a significant resistance level is broken, it can result in a substantial price movement. According to analyst Jelle, Bitcoin is preparing for a major surge, and the next rise could be imminent.</p> 
<h2 style="text-align: justify" id="consolidation-phase-for-bitcoin">Consolidation Phase for Bitcoin</h2> 
<p style="text-align: justify">During consolidation phases, an asset’s price typically fluctuates within a narrow range while gaining momentum for its next big move. In the case of Bitcoin, $72,000 has served as a critical resistance level. When Bitcoin surpasses this threshold, it is likely to trigger a significant increase in buying activity and propel the price to new highs. Jelle suggested that this breakout would be unstoppable and lead to a significant increase in Bitcoin’s value.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-360112 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/jelle-1.png" alt="" width="594" height="717"></p> 
<p style="text-align: justify">The concept of building market pressure is similar to compressing a spring. The longer the consolidation period, the greater the potential energy stored in the market. When this energy is finally released, it can result in a strong and rapid price movement. For Bitcoin, surpassing the $72,000 barrier could release this pent-up energy and sharply increase the price.</p> 
<h2 style="text-align: justify" id="when-bitcoin-surpasses-72-000">When Bitcoin Surpasses $72,000</h2> 
<p style="text-align: justify">According to Jelle’s analysis, when Bitcoin surpasses the $72,000 level, it could quickly rise to a new target range between $93,000 and $97,000. This target is based on historical price patterns and the market’s behavior during previous consolidation and breakout phases. The anticipated increase represents a significant gain from current levels and marks an all-time high for the cryptocurrency.</p> 
<p style="text-align: justify">Investors are closely monitoring Bitcoin’s price movements for signs of a breakout. The <a href="https://en.coin-turk.com/blockpit-acquires-accointing-from-glassnode-in-multi-million-dollar-deal/" data-wpel-link="internal">cryptocurrency market</a> is notorious for its volatility, and significant price movements can occur rapidly. As Bitcoin approaches the $72,000 level, market anticipation and excitement are becoming evident.</p> 
<h2 style="text-align: justify" id="100-days-of-calm">100 Days of Calm</h2> 
<p style="text-align: justify">Although this ongoing calm for the last 100 days has been disappointing for many <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, it can be seen as the calm before a major move. <strong>Bitcoin</strong>‘s significant price movements after such long consolidation periods have historically offered high returns to investors.</p> 
<p style="text-align: justify">Therefore, if Bitcoin breaks the $72,000 level, history may repeat itself, and the market could witness a new wave of increases. If analyst Jelle’s predictions are correct, the coming weeks could see significant activity in the cryptocurrency markets.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-significant-price-surge-3/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Significant Price Surge</a></h5>

Analyst Predicts Bitcoin’s Significant Price Surge

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