Zeberg: Bitcoin Might Hit $123K

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As a researcher with a keen interest in the cryptocurrency market, I find Henrik Zeberg’s prediction of Bitcoin reaching $123,000 intriguing, to say the least. Having followed his analysis for some time now, I can attest to his uncanny ability to read the market trends accurately. His use of technical indicators such as Fibonacci extensions, RSI, MACD, and RVGI is a testament to his deep understanding of the market dynamics.

Renowned trader Henrik Zeberg anticipates the value of Bitcoin, the foremost cryptocurrency, may soar to an astounding $123,000 in the future.

Following a prolonged period of stabilization, it is predicted by Zeberg that Bitcoin will ultimately break through its previous record high of approximately $74,000, a level last seen in March.

After the recent surge, it’s anticipated that Bitcoin will hit its previously mentioned optimistic goal within approximately two and a half months, given the strong positive energy driving its price increase.

Based on Zeberg’s analysis, the ideal optimistic price point aligns with the 1.618 Fibonacci extension (approximately $114,916).

Making it Simple!#BTC target 115-123K

— Henrik Zeberg (@HenrikZeberg) October 31, 2024

Earlier this month, the chartist predicted that Bitcoin would soon experience “a minimum 60% rally.” His bullish prediction is based on the RSI (Relative Strength Index) breaking the downward trend as well as MACD (Moving Average Convergence Divergence) and RVGI (Relative Vigor Index) both scoring bullish cross-overs. 

As an analyst, I observed on Tuesday that the price of the primary cryptocurrency inched towards an all-time high, marking its first crossing above the significant $73,000 barrier in months.

Nevertheless, the bulls haven’t managed to push Bitcoin above the mentioned price point, resulting in a recent dip below $71,000.

Despite a significant increase in investments into BlackRock’s IBIT (Institutional Bitcoin Investment Trust), which saw record-breaking inflows totaling $875 million over a 24-hour period, the largest cryptocurrency has still experienced a drop in value. [Source: U.Today]

Currently, the primary cryptocurrency is being traded at approximately $70,481 on the Bitstamp platform, as it didn’t manage to set a new all-time high price.

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2024-10-31 19:44