New Price Prediction for Rapidly Rising Bitcoin
Bitcoin continues to climb thanks to the boost it received from the China-USA trade deal recently, inching closer to an all-time high.
Quick overview
- Bitcoin's price has increased by 2.42% in the last 24 hours, reaching $104,744.
- Analysts suggest Bitcoin could achieve a new all-time high due to positive market movements and the China-USA trade deal.
- Despite some recent fluctuations, Bitcoin has maintained a value above $100K for nearly two weeks, indicating a potential new support level.
- While a record high above $120K is anticipated soon, caution is advised due to potential negative impacts from future tariff changes.
Live BTC/USD Chart
Over the past 24 hours, Bitcoin’s (BTC) price has gained 2.42%, bringing the coin to a value of $104,744 (BTC/USD) at the time of this writing. We could see Bitcoin break its own record soon.
The value of Bitcoin is on the rise, thanks in part to the continued pause on tariffs as well as the increasing positive movement of the stock market. Several analysts have suggested that Bitcoin could achieve a new all-time high (ATH) as a result of the China-USA trade deal, and the coin has been gaining since that deal. However, it is still 4.02% away from the ATH.
BTC/USDThere has been some backpedaling since Bitcoin passed $100K. It climbed as high as $106.6K and then withdrew slightly. However, the coin has not fallen below $100K in nearly two weeks, which is extraordinary. This indicates that Bitcoin may have established a new, higher support level and that it may be preparing to hit a record high soon.
We anticipate a record high value for the coin as soon as this week. There has been some negative news that will likely hold the token back a bit, including the Moody’s downgrade of the U.S. credit rating and the increased mortgage rates. But the Federal Reserve could announce some good news today that puts Bitcoin back on track to hit that record high.
Bitcoin Price Prediction
After the China-USA trade deal was announced, Bitcoin started to shoot up. Ethereum (ETH) had already shot up before that as part of its hard fork upgrade. When ETH does well, that usually translates over to a boost for BTC. With these two factors working in Bitcoin’s favor, it is not going to take the market by surprise if we see Bitcoin stay above $100K for the next few weeks and set a new high above $120K in that time as well.
After the tariff pause ends, though, and the severe tariffs resume, Bitcoin could lose a lot of ground. This why we are cautious about predicting too high of a price point for the coin this year. We still think $150K is possible for Bitcoin, but that will likely be well into the year, possibly as late as November or December.
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