{"id":17043,"date":"2024-10-31T18:49:56","date_gmt":"2024-10-31T18:49:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17043"},"modified":"2024-10-31T18:49:56","modified_gmt":"2024-10-31T18:49:56","slug":"bitcoin-btc-price-to-hit-new-ath-as-long-as-it-stays-above-this-resistance-zone-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17043","title":{"rendered":"Bitcoin (BTC) Price to Hit New ATH as Long as It Stays Above This Resistance Zone (Analyst)"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Analysts share optimistic BTC price predictions. One trader thinks a parabolic increase of $300K is possible sometime next year.<\/span>
\nThe US presidential election on November 5 may drive BTC volatility due to candidates\u2019 contrasting crypto policies.<\/p>\n

<\/a><\/span><\/h2>\n

New Peak Under This Condition<\/h2>\n

Bitcoin\u2019s price has been one of the hottest topics in the crypto space in the past few days. <\/span>It<\/span> pumped<\/a> to as high as $73,600 (just $150 away from tapping a new all-time high) <\/span>on October 29<\/span> before slightly retreating to its current $72,200 (per <\/span>CoinGecko\u2019s<\/span> data).<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

Somewhat <\/span>expectedly<\/span>, the impressive performance caught the eye of numerous industry participants, <\/span>many of whom<\/span> predicted that a fresh peak might be just around the corner. One of those who chipped in is the popular X user Michael van de Poppe. He <\/span>claimed<\/span><\/a> BTC has recently consolidated before \u201ccontinuing towards new ATHs.\u201d<\/span><\/p>\n

The analyst believes the asset will remain at the forefront of gains if it stays above the critical resistance level of $70,000.<\/span><\/p>\n

The investor and BTC maxi Fred Krueger also gave his two cents. He remarked<\/a> that the primary cryptocurrency is still below \u201cthe power law trendline of 75ish,\u201d envisioning a gigantic surge to $300,000 sometime next year. \u201cDon\u2019t even think of selling any of your Bitcoin,\u201d he advised.\u00a0<\/span><\/p>\n

Earlier this week, Mikybull Crypto <\/span>noted<\/span><\/a> that BTC experienced a so-called \u201cgolden cross.\u201d This technical chart pattern occurs when the asset\u2019s short moving average (often the 50-day) crosses above its long-term moving average (for example, the 200-day). The emergence of a \u201cgolden cross\u201d contrasts with a \u201cdeath cross\u201d and could be a precursor of a further move to the upside.\u00a0<\/span><\/p>\n

Enhanced Volatility Incoming?<\/span><\/h2>\n

BTC may experience substantial price swings as soon as next week due to the upcoming US presidential elections (scheduled for November 5). <\/span><\/p>\n

Voters will have to choose between Republican Donald Trump and Democrat Kamala Harris. The former made a U-turn earlier this year, showing <\/span>huge<\/span> support for the cryptocurrency sector.\u00a0<\/span>For example, he\u00a0promised<\/a> to let BTC thrive and fire the SEC\u2019s Chairman, Gary Gensler (considered a big enemy of the industry), should he emerge victorious.<\/span>\u00a0<\/span><\/p>\n

Harris, on the other hand, has not been that vocal on the matter. Earlier this month, she finally mentioned the crypto sector, <\/span>advocating<\/span><\/a> for a comprehensive crypto regulatory framework to protect \u201cblack men and others\u201d who participate in the market. However, she did not provide <\/span>clear<\/span> details on the potential rules.\u00a0<\/span><\/p>\n

That said, it will be interesting to see who will enter the White House as a winner and how the market will react to the news.\u00a0<\/span><\/p>\n

The post Bitcoin (BTC) Price to Hit New ATH as Long as It Stays Above This Resistance Zone (Analyst)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Analysts share optimistic BTC price predictions. One trader thinks a parabolic increase of $300K is possible sometime next year. The US presidential election on November 5 may drive BTC volatility due to candidates\u2019 contrasting crypto policies. New Peak Under This Condition Bitcoin\u2019s price has been one of the hottest topics in the crypto space […]<\/p>\n","protected":false},"author":0,"featured_media":17044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17043"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17043"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17044"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}