Bitcoin

Closely watched <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">cryptocurrency</a> analyst and strategist, Credible Crypto, has stirred optimism among investors by offering a summary of how Bitcoin (BTC) could reclaim its rising momentum and surpass its all-time high (ATH) of around $69,000. 
<h2 style="text-align: justify;" id="critical-target-level-27-500">Critical Target Level: $27,500</h2>
The anonymous crypto analyst, Credible Crypto, stated that Bitcoin bulls successfully defended the critical support level of $25,000 following Monday&#8217;s drop. According to the analyst, a fall below $25,000 could trigger forced liquidations, which he believes would likely benefit bulls holding long positions in BTC: 
<blockquote>
I think we&#8217;ve reached my first target at this point. The current situation means that lower prices are merely a &#8216;bonus.&#8217; A fall below $25,000 could only occur if driven by forced liquidations. If we surpass $27,500, we&#8217;ll likely experience a short squeeze and see a reversal of the downward trend.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-82138 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bitcoin-1.png" alt="" width="1940" height="950" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bitcoin-1.png 1940w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bitcoin-1-300x147.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bitcoin-1-768x376.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bitcoin-1-1536x752.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bitcoin-1-1200x588.png 1200w" sizes="(max-width: 1940px) 100vw, 1940px" />
<h2 style="text-align: justify;" id="8220-bitcoin-8217-s-decline-is-extremely-healthy-8221">&#8220;Bitcoin&#8217;s Decline is Extremely Healthy&#8221;</h2>
The analyst, who has begun buying Bitcoin from current prices because he anticipates that surpassing $27,500 could propel BTC to its ATH, stated, &#8220;I&#8217;ve started buying spot <a href="https://en.coin-turk.com/bitcoin-coders-dilemma-a-battle-over-bitcoin-ordinals-and-brc-20-tokens/" target="_blank" rel="noopener" data-wpel-link="internal">BTC</a> as planned. We haven&#8217;t gone &#8216;below $25,000&#8217; yet, but we recorded the last bottom around $25,800. To put it simply, there could be a quick pullback to $22,000-23,000 for liquidations. In my view, the downward movement will be limited to $20,000 under extreme conditions. Movement towards a new ATH will come once we pass $27,500 again.&#8221; 
According to Credible Crypto, Bitcoin&#8217;s latest move towards $25,000 is &#8220;logical and healthy&#8221; as it contradicts the view that BTC will reach its ATH this year and it&#8217;s knocking many investors out of the game. 
Bitcoin, the largest cryptocurrency, is trading at $26,761, up 3.91% in the last 24 hours as of the time of preparing this report. 
The post <a rel="nofollow" href="https://en.coin-turk.com/crypto-analyst-predicts-bitcoins-pathway-to-record-highs/" data-wpel-link="internal">Crypto Analyst Predicts Bitcoin&#8217;s Pathway to Record Highs </a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Crypto Analyst Predicts Bitcoin’s Pathway to Record Highs

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