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

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