{"id":602287,"date":"2024-04-09T19:30:55","date_gmt":"2024-04-09T19:30:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=602287"},"modified":"2024-06-11T07:20:32","modified_gmt":"2024-06-11T07:20:32","slug":"are-the-odds-in-bitcoin-bulls-favor-these-analysts-forecast-btcs-future","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/are-the-odds-in-bitcoin-bulls-favor-these-analysts-forecast-btcs-future\/","title":{"rendered":"Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTC\u2019s Future"},"content":{"rendered":"

As the Bitcoin (BTC) “Halving” approaches, expectations increase about how the flagship cryptocurrency will perform. Bitcoin (BTC) is recovering momentum after facing a significant correction in the first few days of Q2, and some analysts are forecasting new heights for the number one cryptocurrency soon.<\/p>\n

Are The Odds In The Bulls Or Bears Favor?<\/h2>\n
Bitcoin had its best quarterly close<\/a> during Q1, 2024. Despite BTC\u2019s stellar performance, as Q2 started, the market was dragged by the leading cryptocurrency\u2019s price correction.<\/p>\n
Since then, Bitcoin has been steadily recovering, testing the $70,000 resistance level over the weekend. As the week started, BTC appeared to have regained support above the $70,000 level.<\/p>\n
Crypto analyst Ali Martinez seems to think that Bitcoin\u2019s performance so far reflects a positive sentiment from investors. In an X post, Martinez shared a chart that paints an optimistic picture, at least for now.<\/p>\n
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When you compare support (1.4 million addresses holding 893,000 $BTC<\/a> between $68,220 and $70,325) with resistance (474,000 addresses holding 285,000 #BTC<\/a> between $70,760 and $71,200), the odds appear to favor the #Bitcoin<\/a> bulls! pic.twitter.com\/pceCyGa8mb<\/a><\/p>\n
— Ali (@ali_charts) April 9, 2024<\/a><\/p><\/blockquote>\n