In a recent market swing, Bitcoin demonstrated its unwavering strength by once again surpassing the $71,000 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.

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 asset could reach US$100,000 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 price of Bitcoin was quoted at US$69,804.86, up 0.7% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$44,653,517,966. The price of Bitcoin has increased by 9.5% in the last seven days.

Bitcoin Reaches the US$71,000 Mark Again

Bitcoin demonstrated its unwavering strength by once again surpassing the $71,000 threshold. This upward movement comes after a brief pullback, which saw the leading cryptocurrency fall below US$61,000, 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.


The views and opinions expressed by the author, or anyone 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.


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