Crypto analysts predict that Bitcoin (BTC), which is trading in the $66,000 region, will continue its uptrend.
Positive data from China and the upcoming presidential election in the US are contributing to the rise of the crypto market. China signaled economic stimulus and monetary easing. The data in question comes with Bitcoin supporter Donald Trump’s lead in the polls for the US elections. Positive signals pushed the price of BTC to $66 thousand.
Crypto analyst Rekt Capital said in his X post on October 14 that BTC has halved its bull cycle. An analysis based on half dates claimed that the increase would continue.
Ali Martinez, on the other hand, predicted that more capital would move into BTC and the rise would continue.
Crypto Analysts Believe in Bitcoin Bull
Ali Martinez, who has caught the attention of global investors, addressed his followers on X at night. Martinez said that the price scenario he has created for BTC is about to come to fruition. The analyst said that the price of BTC fell to $60,000, then rose to $66,000 and fell again to $57,000. The analyst, who knew the price movement in advance, predicted that BTC would rise to $78,000 in the final phase.
BTC futures positions on all exchanges hit an all-time high of $19.75 billion, Martinez said. Martinez said the data suggests more capital is moving into BTC.
Crypto analyst Rekt Capital analyzed the BTC price on October 14. The analysis indicated that if the daily close remains above $65,000, $71,350 can be tested.
Pointing out that BTC forms a lower price peak in each daily candle, the analyst noted the following;
““Each of the previous price moves have resulted in lower highs, but this streak of lower highs could end with a daily close above $65,000.”“
Analysis predicts that if BTC cannot sustain $65,000, it could pull back to $60,656. BTC had a heart-warming close on October 14 at $65,400. According to Rekt Capital, the discussed price should be maintained in the coming days.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
