{"id":610025,"date":"2024-05-27T15:00:55","date_gmt":"2024-05-27T15:00:55","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=610025"},"modified":"2024-06-11T08:32:10","modified_gmt":"2024-06-11T08:32:10","slug":"bitcoin-bull-run-70000-level","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/ripple\/bitcoin-bull-run-70000-level\/","title":{"rendered":"Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat"},"content":{"rendered":"

Crypto expert <\/span>Michael van de Poppe<\/span><\/a> has outlined an <\/span>important price level<\/span><\/a> from which Bitcoin must break out. He claims that once it achieves a successful breakout, the flagship crypto will see a <\/span>new all-time high (ATH)<\/span><\/a>.\u00a0<\/span><\/p>\n

Bitcoin Needs To Break Through $70,000<\/h2>\n

Van de Poppe mentioned in an X (formerly Twitter) <\/span>post<\/span><\/a> that Bitcoin needs to break through $70,000 on the lower time frame (LTF) basis. Once that happens, the analyst claimed that Bitcoin will likely see a <\/span>new ATH<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Prepare For Impact: Market Expert Says Biggest Disaster In Crypto Yet To Come<\/a><\/div>\n

He also noted that lower timeframe regions at $67,000 were holding. Meanwhile, he highlighted Bitcoin\u2019s <\/span>long consolidation<\/span><\/a>, stating that almost three months have passed since the crypto token remained in that range.\u00a0<\/span>.<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

However, the crypto expert believes that Bitcoin will likely remain stuck in this range for a \u201csubstantial period,\u201d with the <\/span>flagship crypto<\/span><\/a> possibly trading lower. This is because he foresees a rotation from Bitcoin towards <\/span>Ethereum and other altcoins<\/span><\/a>, which will cause the flagship crypto not to move to the upside.\u00a0<\/span><\/p>\n

This long consolidation period was expected from BTC. <\/span>Arthur Hayes<\/span><\/a>, the co-founder and former CEO of BitMEX, <\/span>predicted<\/span><\/a> that the crypto token would continue to range between $60,000 and $70,000 until August. <\/span>Crypto analyst Rekt Capital<\/span><\/a> has also repeatedly <\/span>mentioned <\/span><\/a>that Bitcoin will face such a long consolidation period, which he claimed is good for Bitcoin.<\/span><\/p>\n

He noted how the flagship crypto hit a new ATH before the <\/span>halving event<\/span><\/a> brought about an accelerated cycle. However, a long consolidation period means Bitcoin is trying to resynchronize with previous halving cycles. He suggested this is better since it will make the bull run longer. Rekt Capital claimed If it successfully resynchronizes with the previous bull cycles, Bitcoin will peak sometime in September or October next year.\u00a0<\/span><\/p>\n

In a recent <\/span>X post<\/span><\/a>, Rekt Capital mentioned that \u201cthere is still scope for additional consolidation at these highs\u201d but added that the time left in this phase \u201cis slowly running out.\u201d The chart the analyst shared suggested that Bitcoin simply needs to break out from the $70,000 range before it enters into the <\/span>\u2018parabolic uptrend\u2019<\/span><\/a> phase.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

BTC May Be Headed To $78,000 Next<\/h2>\n

Crypto analyst Mikybull Crypto<\/span><\/a> recently <\/span>suggested<\/span><\/a> that Bitcoin could be <\/span>headed to $78,000<\/span><\/a> on its next leg up. He revealed that the flagship crypto had broken out of an inverse head and shoulders pattern and was currently \u201cbull flagging for the next move.\u201d He highlighted $78,000 as the price target for this next move.\u00a0<\/span><\/p>\n

Related Reading: Terra LUNA\u2019s LUNC Set To Jump 13x, Analyst Reveals The Drivers<\/a><\/div>\n

In a subsequent <\/span>X post<\/span><\/a>, he claimed that BTC retesting its support level might be the next step before this \u201cexplosive rally\u201d finally happens. Bitcoin potentially rising to $78,000 is significant as it could clear the road for the <\/span>flagship crypto to hit $100,000<\/span><\/a>. Crypto analyst Crypto Jebb <\/span>previously mentioned<\/span><\/a> that there is a \u201cgreat degree of likelihood\u201d that Bitcoin would rally to $100,000 should it break its current ATH of $73,800.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price fails to break $70,000 | Source: BTCUSD On Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto expert Michael van de Poppe has outlined an important price level from which Bitcoin must break out. He claims that once it achieves a successful breakout, the flagship crypto will see a new all-time high (ATH).\u00a0 Bitcoin Needs To Break Through $70,000 Van de Poppe mentioned in an X (formerly Twitter) post that Bitcoin needs to break through $70,000 on the lower time frame (LTF) basis. Once that happens, the analyst claimed that Bitcoin will likely see a new ATH.\u00a0 Related Reading: Prepare For Impact: Market Expert Says Biggest Disaster In Crypto Yet To Come He also noted that lower timeframe regions at $67,000 were holding. Meanwhile, he highlighted Bitcoin\u2019s long consolidation, stating that almost three months have passed since the crypto token remained in that range.\u00a0. However, the crypto expert believes that Bitcoin will likely remain stuck in this range for a \u201csubstantial period,\u201d with the flagship crypto possibly trading lower. This is because he foresees a rotation from Bitcoin towards Ethereum and other altcoins, which will cause the flagship crypto not to move to the upside.\u00a0 This long consolidation period was expected from BTC. Arthur Hayes, the co-founder and former CEO of BitMEX, predicted that the crypto token would continue to range between $60,000 and $70,000 until August. Crypto analyst Rekt Capital has also repeatedly mentioned that Bitcoin will face such a long consolidation period, which he claimed is good for Bitcoin. He noted how the flagship crypto hit a new ATH before the halving event brought about an accelerated cycle. However, a long consolidation period means Bitcoin is trying to resynchronize with previous halving cycles. He suggested this is better since it will make the bull run longer. Rekt Capital claimed If it successfully resynchronizes with the previous bull cycles, Bitcoin will peak sometime in September or October next year.\u00a0 In a recent X post, Rekt Capital mentioned that \u201cthere is still scope for additional consolidation at these highs\u201d but added that the time left in this phase \u201cis slowly running out.\u201d The chart the analyst shared suggested that Bitcoin simply needs to break out from the $70,000 range before it enters into the \u2018parabolic uptrend\u2019 phase.\u00a0 BTC May Be Headed To $78,000 Next Crypto analyst Mikybull Crypto recently suggested that Bitcoin could be headed to $78,000 on its next leg up. He revealed that the flagship crypto had broken out of an inverse head and shoulders pattern and was currently \u201cbull flagging for the next move.\u201d He highlighted $78,000 as the price target for this next move.\u00a0 Related Reading: Terra LUNA\u2019s LUNC Set To Jump 13x, Analyst Reveals The Drivers In a subsequent X post, he claimed that BTC retesting its support level might be the next step before this \u201cexplosive rally\u201d finally happens. Bitcoin potentially rising to $78,000 is significant as it could clear the road for the flagship crypto to hit $100,000. Crypto analyst Crypto Jebb previously mentioned that there is a \u201cgreat degree of likelihood\u201d that Bitcoin would rally to $100,000 should it break its current ATH of $73,800.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":610040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[428,656,679,1119,89185,1122,1144,78790,6664,90232,14690,91847],"class_list":["post-610025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-expert","tag-crypto-news","tag-expert"],"acf":[],"yoast_head":"\nKickstarting The Bitcoin Bull Run: Expert Says $70,000 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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