Bitcoin (BTC) Has easily recovered from the violent setback that the course suffered last Sunday and Monday. Some experts predict new highs for Bitcoin – but the danger has not yet been banned. Analysts of Cryptoquant warn that the course could encounter strong resistance and should be stuck at the current level, provided that the market conditions do not improve.
$ 84,000 as a decisive course brand
On Wednesday, April 9th, Bitcoin rose by almost 8.5 % within a day and has again moved well over the $ 80,000 mark since then. This price level is considered an important line of support and resistance. But according to Cryptoquant, an even more important brand is getting closer: In a market report on April 10, the analysis house describes the $ 84,000 as a decisive price target. If Bitcoin continues to rise, massive resistance should occur here.
The level is 61.8 % Fibonacci retracement-a brand that is traditionally associated with strong sales activity. Between 83,500 and $ 84,000 there is also a liquidity zone with a lot of sales pressure. The lack of purchase dynamics and a historically lower “Bull score index” According to Cryptoquant, speak that a breakthrough should become difficult.
Is there a new all -time high for Bitcoin?
If the course succeeds in overcoming this hurdle, the analysts see a possible price target at $ 96,000. This price level served as important support a few months ago. At the time of publication, the BTC course is around $ 81,660, which corresponds to an increase of 2.5 % compared to the previous day. Cryptoquant comes to the conclusion that Bitcoin has now made up most of the recent losses. Although the analysts emphasize that Bitcoin could encounter resistance, other crypto experts do not rule out a new all-time high.
Bill Barhydt, founder and CEO of Abraglobal, even expects that the course in summer could increase to $ 130,000 to $ 140,000. He refers to the increasing global amount of money-a factor that has often been connected to strong BTC risks in the past.
“From this I conclude that we will see new highs by the middle of the summer at the latest,” said Barhydt.
Barhydt is not the only optimist. Matt Hougan, CIO at Bitwise, also expects new course records. On the earlier forecast of Bitwise that BTC could achieve $ 200,000 in the current year, Hougan says: “I still think this forecast is realistic.”
Market conditions have to improve
However, the promising forecasts by Barhydt and Hougan do not change the challenges that Bitcoin is currently facing – as also emphasizes Cryptoquant in his report. If the current market conditions do not improve, BTC will find it difficult to break through the resistances. In particular, the persistent trade policy tensions of the United States put a strain on the global markets and have a negative effect on the Cryptoma market out of.
While some Bitcoin consider “safe harbor” in times of crisis, the current trade tariffs show significant traces in the course of the course.