2024

bullish

Bitcoin

Toncoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-potential-price-movements/" data-wpel-link="internal">Analysts Predict Bitcoin’s Potential Price Movements</a><br></p>
<p style="text-align: justify">This week, <a href="https://en.coin-turk.com/understanding-bitcoins-current-stagnation-what-to-expect-next-in-crypto-market/" data-wpel-link="internal">Bitcoin</a>‘s price consolidated within a specific range, and analysts remain optimistic. Analysts predict strong movements for Bitcoin by the end of 2024 and into 2025. What do market analysts currently think about Bitcoin?</p> 
<h2 style="text-align: justify" id="martinez-s-bitcoin-commentary">Martinez’s Bitcoin Commentary</h2> 
<p style="text-align: justify">Bitcoin (BTC) has struggled to maintain a critical level above $60,000, showing a decline in price performance. However, well-known analyst Ali Martinez suggests this could change soon, with Bitcoin potentially targeting $64,000.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-380349" src="https://coin-turk.com/wp-content/uploads/2024/08/bitcoin-m1-coin-turk-com.png" alt="" width="517" height="352"></p> 
<p style="text-align: justify">Martinez, approaching Bitcoin’s price movement from a different angle, noted in his August 14th post that the price movements of Toncoin (TON) and Bitcoin are parallel. He suggested that one could act as a guide for the other.</p> 
<p style="text-align: justify">Indeed, Bitcoin’s current price movement mirrors TON’s performance, which saw a 6.88% drop in the last 24 hours but a 6.89% weekly increase, reducing its monthly loss to 10.85%.</p> 
<p style="text-align: justify">If Bitcoin continues to follow TON so closely, Martinez believes Bitcoin could rise in the coming days, potentially reaching the $64,000 target and continuing upward over the weekend.</p> 
<h2 style="text-align: justify" id="analysts-bitcoin-commentary">Analysts’ Bitcoin Commentary</h2> 
<p style="text-align: justify">Other analysts also commented on Bitcoin. Analyst CrypNuevo recently examined Bitcoin on a 1-hour timeframe and identified a significant wick for a resistance zone. He warned <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> of a potential bull trap around $62,000 and beyond.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-380350" src="https://coin-turk.com/wp-content/uploads/2024/08/bitcoin-m2-coin-turk-com.png" alt="" width="508" height="291"></p> 
<p style="text-align: justify">Additionally, on August 14th, CrypNuevo warned that if the key level between $61,800 and $62,200 is rejected, Bitcoin could drop to $58,000 before rising again. As of this writing, BTC has fallen below $58,000.</p> 
<p style="text-align: justify">Lastly, analyst The Moon shared a chart showing both bearish and bullish scenarios. He indicated that, depending on the breakout direction of a large symmetrical triangle on the 1-hour chart, the price could move to $52,000 or $68,000.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-380351 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/bitcoin-m3-coin-turk-com.png" alt="" width="509" height="290"></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/analysts-predict-bitcoins-potential-price-movements/" data-wpel-link="internal">Analysts Predict Bitcoin’s Potential Price Movements</a></h5>
<p>The post <a href="https://en.coin-turk.com/analysts-predict-bitcoins-potential-price-movements/" data-wpel-link="internal">Analysts Predict Bitcoin’s Potential Price Movements</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analysts Predict Bitcoin’s Potential Price Movements

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