Cryptocurrency

Bitcoin

when

Summer

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-evaluate-bitcoins-recent-price-surge/" data-wpel-link="internal">Analysts Evaluate Bitcoin’s Recent Price Surge</a> 
<a href="https://en.coin-turk.com/bitcoins-ascent-to-new-heights-predicted-by-analyst-planb/" data-wpel-link="internal">Bitcoin</a> (BTC) price dropped to $58,402 in the last 24 hours before rising above $62,000 again. Analysts are assessing whether the latest BTC surge is a real turnaround. Altcoins increased by around 8% along with the BTC price rise. So, what will happen now? Will this recovery continue after the recent rise in cryptocurrencies? 
<h2 style="text-align: justify" id="bitcoin-btc">Bitcoin (BTC)</h2> 
Bitcoin price hit its lowest level in six weeks on June 24. After the losses in the last 24 hours, the rebound in BTC price confirmed buyer interest at the $60,000 support. Crypto analyst Jelle is pleased that lower levels attract investors. He said: 
<blockquote> 
 “If Bitcoin can lock in a higher low on a lower time frame today, we could return to $63,500 before the week ends. Closing above this level will be positive for altcoins.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-365116 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/Jelle-BTC-Tahmin.png" alt="" width="1582" height="896"> 
Jelle also mentions seeing oversold signals after the BTC price fell to $58,400. According to him, a similar structure formed when BTC fell to around $26,000 in August 2023. After that mid-year decline supported by <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">Elon Musk</a>, BTC hit a new all-time high in November. 
<h2 style="text-align: justify" id="will-the-cryptocurrency-rise-continue">Will the Cryptocurrency Rise Continue?</h2> 
If August 2023 repeats, BTC price is expected to embark on a new ATH journey. Although the 2024 cycle and 2023 conditions are different, many favorable developments motivate investors for the year-end. The potential continuation of the decline in inflation, new investors expected with ETH ETF entries, and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cuts with the November elections are encouraging. 
Jelle also highlights the daily RSI for Bitcoin, discussing the details of the oversold environment. 
<blockquote> 
 “Bitcoin’s daily RSI value hasn’t been this low for about a year. In fact, we last saw oversold conditions when BTC was trading at $26,000. Summer shake-up?” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-365117 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/Jelle-BTC-RSI.png" alt="" width="1563" height="887"> 
Rich Dad, Poor Dad author Kiyosaki said: 
<blockquote> 
 “Bitcoin is crashing. Most people should sell. I’m waiting to buy more. If crashes scare you, sell and stick to your job, which is what most ‘employees’ should do.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-evaluate-bitcoins-recent-price-surge/" data-wpel-link="internal">Analysts Evaluate Bitcoin’s Recent Price Surge</a></h5>

Analysts Evaluate Bitcoin’s Recent Price Surge

Table of Contents

COINTURK NEWS

Other articles published on Jun 25, 2024

Crypto firm Hiddup rebrands amid $41M investigation and legal woes

7 New Cryptocurrencies With High Growth Potential

FTX Creditors Granted Voting on Liquidation Plan by U.S Court

Solana and Cardano Lead Top 10 Crypto Rebound

Why Solana, Ethereum, and Furrever Token Are Set to Dominate the Crypto World in 2024

Elon Musk ‘Endorsement’ Boost as FLOKI Telegram Bot Announces Blazing-Fast Swaps with 1% Fees on ...

Join our free newsletter for daily crypto updates!