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THE MOST POWERFUL PART OF #BITCOIN'S BULL RUN BEGINS.— AO (@AurelienOhayon) September 8, 2024
Mayer Bands target : 200K pic.twitter.com/OW5OKHou3i
Bitcoin is in a storm, oscillating between the hope of a new high and the fear of a violent drop. While some predict a spectacular surge, others fear a fatal correction. But what exactly is behind these predictions for the queen of crypto? Analysts continue to be divided on Bitcoin’s future trajectory, between optimism and caution.
Bitcoin: Always Higher, But At What Cost?
Bitcoin keeps riding the roller coaster. After hitting a dizzying height of 69,500 dollars in 2021, the famous ATH, it plunged below 20,000 at the start of 2023, leaving investors groggy. Yet, in just a year and a half, BTC rebounded to 73,750 dollars.
Today, with a price at 54,574 dollars, it remains 26% below its record.
Despite this volatility, some analysts, such as AurelienOhayon, predict the “most powerful Bitcoin bull run” with a stratospheric target of 200,000 dollars.
One thing is certain, the king of cryptos continues to fascinate, but should we really believe in this new ascent or prepare our parachute?
Crypto: Between Hopes and Uncertainties
The crypto market remains more unpredictable than a weather vane in a storm. Bitcoin, the flagship crypto, seems suspended between an expected correction and a potential rally.
Satoshi Flipper, another influential analyst, mentions the formation of a “bull flag” that could signal the “most beautiful rise in BTC history“. But beware of illusions: in August, Bitcoin fell to 48,800 dollars before climbing back to 65,000, never reaching the hoped-for grail.
And the dance continues, influenced by Fed announcements and even the upcoming U.S. elections.
Key figures to remember:
- Drop to $48,800 in August;
- Rebound to $65,000;
- Current price: $54,574.
Bitcoin remains as elusive as ever, while investors juggle between hope and caution.
After an 8.6% drop in August, vigilance is required this September to avoid another disappointment.