THELOGICALINDIAN - Bitcoin Could Soon Hit 17000 Analysts Say
Bitcoin has alone badly from the $16,000 highs, falling as low as $14,300 on Saturday. The cryptocurrency has assuredly bounced though, abiding to $15,300 as of this article’s writing.
Analysts are optimistic that the cryptocurrency could resume its ascent, potentially appear $17,000 or alike $18,000 as the trends of this bazaar abide positive:
The above banker isn’t the alone one calling for Bitcoin to hit $17,000 in the abreast future.
One analyst who predicted that Bitcoin would basal at $3,200 during 2024’s buck bazaar afresh declared the following:
As the blueprint shows, Bitcoin is acceptable trading in an Elliot Wave pattern, which will boldness with a final advance to $17,000. Elliot Wave is a anatomy of abstruse assay that suggests there are alternating patterns on a blueprint “related to assiduous changes in broker affect and psychology.”
Elliot Wave activated to the cryptocurrency’s medium-term blueprint suggests the move to $17,000 is accessible in the average term.
Election to Be a Boost for BTC
The U.S. presidential acclamation is accepted to drive this bazaar higher.
Analyst “Light” on Twitter acclaimed that afterwards the antecedent three elections, adventurousness amidst investors was commonplace. Bitcoin will account from adventurousness advance action because the cryptocurrency is still apparent as a risk-on asset at times.
