Bitcoin Past $70k Again, but for How Long?

Cryptocurrency Bitcoin (BTC) is up to $72,591 (BTC/USD) today after gaining 4.26% in the last day, but will it manage to stay above the crucial $70k level?

That is what investors are asking today as they see a strong start from Bitcoin for the week. Getting off on the right foot for Monday could mean great things for the token for the remainder of the week.

Bitcoin’s trade volume is surging, up 62%, showing renewed interest in the coin after its recent downturn. Most analysts expected that it would not stay down for long and anticipated a return above the $70,000 mark. That level is proving tough for Bitcoin to remain above, though, and this week will be one of testing for the coin to see if it can establish a new resistance level.

This is the first time Bitcoin has managed to pass $72,000 in March, and the increase puts it very close to the all-time high of $73,750. If Bitcoin can maintain just a small amount of momentum this week, it will easily create a new record and draw back more interest to the coin and to the wider cryptocurrency market.

Bitcoin Price Prediction

This week has gotten off to a good start, but it could go in any direction at this point. Investors might become skittish very quickly once Bitcoin creates a new record high, and they could withdraw and allow the coin to crash again.

The whales will certainly be behind Bitcoin, though, and be pushing for the token to surge much higher and create a new resistance level. We expect their efforts to keep Bitcoin high for a couple of days and push the coin close to $80,000 before the end of the week.

If that happens, Bitcoin may be able to reach $100,000 in the next few months, perhaps managing that milestone by late summer. There is still a chance that it will even achieve $150,000 by the end of the year, especially if we see a repeat of what Bitcoin did late last year and early this year with its massive gains in a short amount of time.