In a recent market report, the Bitcoin demonstrated its unwavering strength by once again surpassing the $71 price level. Jelle, a prominent cryptocurrency analyst, suggested in a shared analysis on March 26 that the market's largest cryptocurrency is charting an imminent upward trajectory.
The analyst observed the current scenario with a positive movement traced by Bitcoin, highlighting that the largest crypto asset will reach the level of US$100.000 in a matter of time.
“The new higher low has been locked and Bitcoin is heading back towards the highs. The next higher stage has already begun. $100.000 is a matter of time, in my opinion,” he stated.
The new higher low has locked in, and # Bitcoin is pushing back towards the highs.
The next leg higher has started.
$100,000 is a matter of time, imo. https://t.co/EA1TvcUlN5 pic.twitter.com/qt55a0Uy7f
— Jelle (@CryptoJelleNL) March 26, 2024
It is worth remembering that, at the beginning of the month, analyzing Bitcoin's movements, market expert Timothy Peterson shared a very optimistic forecast for the largest cryptocurrency. The analyst highlighted the positive momentum triggered by the approval of spot Bitcoin exchange-traded funds (ETFs), suggesting that the assets could reach US$ 100 thousand by October.
“It appears that the approval of the Bitcoin Spot ETF has launched an accumulation that, if sustained, will put $BTC at $100K by October 2024,” highlighted Peterson in a recently shared analysis.
At the time of publication, the Bitcoin price it was quoted at US$ 69.804,86 with an increase of 0.7% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$44.653.517.966. O Bitcoin price increased by 9.5% in the last seven days.
Bitcoin Reaches the US$71 Mark Again
O Bitcoin demonstrated its unwavering strength by once again surpassing the $71 threshold. This upward movement comes after a brief pullback, which saw the leading cryptocurrency fall below US$61, inciting debate and speculation among investors and analysts about the immediate future of the digital asset.
Bitcoin's upward trajectory is not an isolated surprise, but a reflection of growing optimism among long-term investors. These, taking advantage of the recent wave, capitalized on the appreciation, pocketing significant profits. Currently, Bitcoin is positioned at a higher level, with its market value exceeding the impressive figure of US$1,38 trillion.
