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Investment Tips 03-06-2024 09:05 107 Views

Bitcoin Price Prediction: $150K Forecast and ETF Market Trends; BTC to Hit $70,000?

Bitcoin Price Prediction

On Monday, the price of Bitcoin increased by 1%, opening at $68,473 and reaching an intra-day high of $68,733.Despite ongoing volatility, traders and investors remain speculative about future movements, closely watching the global crypto market cap, which increased by 0.42% to $2.55 trillion.

The total crypto market volume surged by 45.83% to $66.2 billion in the past 24 hours. Factors like US BTC-spot ETF market flow trends, anticipated central bank policy easing, and positive US political developments are driving the upward trend.

Veteran Trader Brandt’s $150,000 Bitcoin Prediction

Veteran trader Peter L. Brandt predicts Bitcoin will hit $150,000 by September 2025, based on historical trends linked to Bitcoin’s “halving” events, where mining rewards are reduced by half. These halvings often signal key points in Bitcoin’s bull market cycles.

Peter Brandt has predicted that the Bitcoin price could potentially reach a whopping $150,000 during the ongoing bullish cycle. pic.twitter.com/0IuhEoXcGC

— BULLSTREET GROUP (@Bullstreetgroup) June 3, 2024

Brandt’s analysis, supported by analysts like CryptoCon and PlanB, indicates that the period from the start of a bull market to a halving often equals the time from the halving to the market peak.

Key Points:

Prediction: $150,000 BTC by September 2025
Historical Basis: Linked to Bitcoin halving events
Support: Analysts CryptoCon and PlanB

This prediction could increase investor interest and market speculation, driving bullish momentum and significantly impacting Bitcoin’s market dynamics and valuation.

Pizzino Predicts Bitcoin High and Altcoin Surge

Crypto analyst Jason Pizzino highlights the average true range (ATR) indicator’s role in predicting Bitcoin (BTC) movements. Pizzino suggests that BTC’s ATR bottom often precedes price consolidation and upward trends. He asserts that if BTC stays above $56,000 to $60,000, it could indicate an impending all-time high.

Additionally, Pizzino sees potential for altcoins to rise, noting similarities in the TOTAL3 chart with past breakouts. This analysis suggests a hidden bullish sentiment in the crypto market, potentially driving investor confidence and increased buying activity.

Key Points:

BTC Range: $56,000 to $60,000
Indicator: Average True Range (ATR)
Altcoin Potential: TOTAL3 chart insights

Pizzino’s forecast could boost market confidence and drive bullish momentum in both Bitcoin and altcoins.

Bitcoin Daily Technical Outlook: June 3, 2024

Bitcoin is trading at $68,987, showing a nearly 1% increase, exhibiting a bullish Bitcoin price prediction. The price action features a bullish engulfing candle around $68,500, indicating strong buying interest, and a bullish EMA crossover at $68,100, suggesting continued upward momentum.

The pivot point is $68,342, supported by an upward trendline. Key resistance levels are $69,543, $70,610, and $71,494, while support levels are $67,311, $66,650, and $65,932.

The RSI stands at 62, reflecting positive momentum, and the 50-day EMA is $68,045, providing additional support. The downward trendline near $69,500 may limit further gains.

Bitcoin Price Prediction – Source: TradingviewOverall, Bitcoin’s outlook remains bullish above $68,000. If the price holds above this level, it may continue to rise. However, a break below $68,000 could lead to increased selling pressure.

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The post Bitcoin Price Prediction: $150K Forecast and ETF Market Trends; BTC to Hit $70,000? appeared first on Cryptonews.

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