Bitcoin has surpassed the $34,000 mark and various analysts have shared their predictions for its future trajectory. Michaël van de Poppe, CEO of MN Trading, believes that if Bitcoin breaks out from the resistance at $34,700, it could rise to $37,000 to $38,000.
BTCUSD is currently trading at $34.142. Chart: TradingView.com
CryptoTony suggests that Bitcoin might spike up to $36,000 before entering a range-bound phase. Another analyst, CryptoCon, mentions the significance of the upcoming Bitcoin Halving event and remains bullish on Bitcoin, predicting a potential price of $45,000 by November.
Crypto Rover identifies a bull flag breakout on the charts, indicating the possibility of a significant rally. Bitcoin’s recent performance has shown a decoupling from the stock market, with Bitcoin experiencing significant gains in October while the Nasdaq and S&P 500 have had more modest increases.
Additionally, Bitcoin’s dominance in the overall cryptocurrency market is nearing 54%, indicating its continued strength compared to other cryptocurrencies like Ethereum.
Source: NEWSBTC
