Bitcoin Surges Past $64K: Is $90K the Next Target?

The Bitcoin surge has pushed the cryptocurrency beyond $64,000, sparking new discussions about BTC price predictions, and we’re here for that. Some analysts are now eyeing a potential $90,000 target. Is Bitcoin capable of reaching and keeping that target?

Let’s find out by diving into the topic and exploring the circumstances.

Also Read: BRICS Currency: 40% Could Be Tied to Gold, 60% in Local Currencies

Navigating BTC Price Predictions, Investment Risks, and Crypto Market Trends

Bitcoin Surge – Recent Price Action

Bitcoin’s value has climbed steadily and has reached a $64,250 value, as shown in the image above. The chart shows a quick recovery after a brief dip to $63,000. The price has since stayed above $64,000, so there are chances.

Expert Views on the Market

Very psychologically difficult to flip from looking to trim on pops during chop to letting your winners ride.

A confirmed change in market structure above $65k on BTC is the threshold for risk on and switching this bias IMO.

— Will (@WClementeIII) September 24, 2024

Will Clemente, a crypto analyst, pointed out a key challenge. He said, “Very psychologically difficult to flip from looking to trim on pops during chop to letting your winners ride.” Clemente thinks a change above $65,000 could lead to more risk-taking.

Also Read: Shiba Inu: How Many Years Will SHIB Take To Reach $1?

Technical Analysis Insights

Charts suggest that Bitcoin might rally to $80-90K in value. This pattern is called an “ending diagonal, ” which is represented in both charts. But it depends on Bitcoin staying above its September lows.

ETF Market Flows & Bitcoin Surge

US Bitcoin ETFs are seeing more money come in as we speak, and that contributes to BTC’s chances. The chart above exemplifies how events like SEC testimony affect Bitcoin’s price. This suggests than any other important even might affect BTC again. We’ll see how the situation evolves and report on it.

Wider Crypto Market Trends

Other cryptos have been showing mixed signals. For example, Ethereum, shown in the image above, is beyond its 50-day average but below its 200-day average. This suggests short-term optimism but long-term caution, so we need to consider this aspect before investing.

Also Read: Chinese Yuan Hits 16-Month High Against US Dollar

Bitcoin Surge – Regulatory Impact

Rules and laws still sway the crypto market, and that will probably never change. The chart above shows how SEC statements can move Bitcoin’s price. Investors should watch for new rules that could affect Bitcoin, and we will do the same here at Watcher Guru.

The Bitcoin surge has renewed interest in the future, but the question remains: Will it hold? While $90,000 is just an informed guess, many are watching to see how high Bitcoin can go. We’re excited to find out more!

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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