Cryptocurrency

FOMO

Bitcoin

mirror

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-analyst-predicts-significant-increase-for-btc/" data-wpel-link="internal">Bitcoin Analyst Predicts Significant Increase for BTC</a><br></p>
<p style="text-align: justify">Bitcoin analyst Jelle predicts a significant increase for the cryptocurrency BTC, reaching $180,000. According to Jelle, a breakout in Bitcoin could lead to higher prices due to fear of missing out (FOMO). However, he suggests that market liquidity will be weak at these high levels. Therefore, as Bitcoin approaches this peak, he advises aggressively taking profits to avoid losses when the market eventually corrects.</p> 
<h2 style="text-align: justify" id="jelle-s-retrospective-and-technical-analysis">Jelle’s Retrospective and Technical Analysis</h2> 
<p style="text-align: justify">Comparing Bitcoin’s current state with the pattern observed last summer, Jelle notes that the cryptocurrency saw months of sideways trading, retesting two significant support levels: $25,000 last summer and now $60,000.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-366046 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-20.png" alt="" width="495" height="511"></p> 
<p style="text-align: justify">According to the analyst, the daily Relative Strength Index (RSI) is oversold during this second retest, indicating a potential recovery. If Bitcoin continues to mirror its behavior from last summer, Jelle foresees one or two more months of consolidation before a significant upward movement, often referred to as a journey to the moon.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-366047 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/bitcoin-4.png" alt="" width="491" height="586"></p> 
<p style="text-align: justify">Jelle’s analysis also emphasizes the importance of strategic profit-taking. He highlights the need to “scale up” by gradually selling portions of assets to secure profits and reduce risks. Jelle warns against holding the cryptocurrency BTC for too long, as the rapid price increase caused by FOMO could lead to a sharp decline once the buying frenzy subsides.</p> 
<h2 style="text-align: justify" id="increasing-interest-in-cryptocurrency-etfs">Increasing Interest in Cryptocurrency ETFs</h2> 
<p style="text-align: justify">Beyond Bitcoin, Jelle notes the growing interest in Bitcoin ETFs. While Bitcoin maximalists believe there will only be one Bitcoin ETF, he emphasized the rapid evolution of the market.</p> 
<p style="text-align: justify">Ethereum is preparing to launch its ETF next week, and VanEck has applied for a <a href="https://en.coin-turk.com/solanas-remarkable-recovery-and-market-performance-in-2023/" data-wpel-link="internal">Solana</a> ETF. This expansion indicates increased mainstream acceptance and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> in various cryptocurrencies.</p> 
<p style="text-align: justify">Jelle humorously suggests that even the older generation, which has been skeptical of cryptocurrencies, will join the market in a few years. The increasing adoption of cryptocurrency ETFs by traditional financial institutions could provide more growth and legitimacy in the crypto <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener" data-wpel-link="exclude">space</a>.</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/bitcoin-analyst-predicts-significant-increase-for-btc/" data-wpel-link="internal">Bitcoin Analyst Predicts Significant Increase for BTC</a></h5>

Bitcoin Analyst Predicts Significant Increase for BTC

Table of Contents

COINTURK NEWS

Autres articles publiés le 28 juin 2024

As $PEPE Falls, Investors Flock To Promising New Meme Coins for Huge Gains

Kazakhstan Approves Toncoin for Trading on Regulated Exchanges

Bitcoin price may not rise that ‘dramatically,’ Peter Thiel says

Seeking High ROI & Passive Income? MoonBag Presale Crushes Render & Ripple in Top Crypto Presale!

Three Strategies To Follow During the $10 Bn Token Unlocks in Q3 and Q4

Key PCE Inflation Data Meets Expectations, Bitcoin Price To Rise In June? Experts Also Eye 99BTC

Join our free newsletter for daily crypto updates!