Over the past 24 hours, the cryptocurrency market has witnessed a remarkable resurgence. The global market capitalization has surged by 1.8% to reach approximately $2.25 trillion. This surge is mainly driven by renewed investor confidence in Bitcoin, which is now looking to push its value towards the $60,000 milestone.

An analysis has observed a Bitcoin price trajectory between the $48,000 and $67,000 levels. What’s next for the largest cryptocurrency on the market? In a post shared on July 9, cryptocurrency expert and trader Justin Bennett highlighted Bitcoin’s current trends, which are being supported by key technical indicators as well as price movements.

The analysis was based on the BTC/USDT chart, which is indicating a critical juncture for the largest crypto asset. Currently, the price of Bitcoin is testing the resistance zone between $60,162 and $60,751. According to the expert, if Bitcoin manages to recover to the $58,400 level, the asset’s price will likely retest the $60,000-$60,700 range.

“If $BTC can reclaim $58,400, a retest of $60,000-$60,700 is likely. What happens between $60k and $58,400 will determine whether Bitcoin sees $67k or $48k next. All eyes on US CPI and PPI this Thursday and Friday,” the analyst wrote.

At the time of publication, the price of Bitcoin was quoted at US$ 57,718.12 with an increase of 0.9% in the last 24 hours.

Bullish Bitcoin Prediction: $100,000 This Year

Anthony Scaramucci, the founder of SkyBridge Capital, recently shared his bullish outlook on Bitcoin’s future, anticipating that the leading cryptocurrency could reach the $100,000 milestone by the end of this year. In an interview with CNBC, Scaramucci expressed confidence in Bitcoin’s recovery despite its recent correction to around $53,000.

According to Scaramucci, the current price slump is a temporary situation, driven by events such as the settlement of creditors of bankrupt exchange Mt. Gox and the German government’s coin sales. “We still love the long-term fundamentals of Bitcoin. And I think, like I said, it will be $170,000 post-halving, but I think you can get to $100,000 by the end of the year, but it has to go through that grind now.”


The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/analise-observa-trajetoria-do-bitcoin-entre-us-48-mil-e-us-67-mil-o-que-vem-a-seguir/

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