The Cryptocurrency market slowly started its recovery trip. While the market hoped to witness a recovery in March, several assets recorded a massive decline. The world’s largest Cryptocurrency Bitcoin (BTC) dropped by almost 7% over the past week. In the midst of this King Coin recycled the ground at $ 83,000 and restored the jump on the market. Will the asset bank on its current momentum and reach an altitude of $ 150,000?
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A look at Bitcoin’s highest time
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Is $ 150,000 a possible goal?
An analyst recently revealed that Bitcoin will hit a high out of $ 150,000 until later. In a recent posting about TradingView, an analyst noted that after a short test of 1-week MA50 support level earlier this week, Bitcoin begins to show indications of a recovery. It is unclear if this will result in a complete recovery, but previous trends indicate that bull cycles for Bitcoin often top around the end of the third year, which is expected to happen in 2025. Preparation of the same, said the analyst, said, the analytics said,
“The channel up can be classified in two main phases so far: each has a primary correction (red) of more than -30% case, followed by a rally (blue), then a secondary correction (yellow) of more than -20%, followed by the other and last rally (blue). All rally has so far been +100%. Based on this model, we are now on the secondary correction of phase 2.“
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