Crypto Analyst Foresees Bitcoin Breaking $70,000 Barrier Soon, But Only If This Happens
Portfolio Pulse from Bibhu Pattnaik
Crypto analyst Kevin Svenson predicts a significant price surge for Bitcoin (CRYPTO: BTC), potentially reaching $70,000, if the $32,000 resistance level is converted into a support base. This could trigger a massive uptick in Bitcoin's price, resulting in an approximate 130% increase from its current standing. Svenson also anticipates a spike in Bitcoin's volatility once the $32,000 resistance is transformed into a support level. Another catalyst could be the potential approval of a spot Bitcoin ETF.
October 21, 2023 | 7:52 pm
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Bitcoin's price could surge to $70,000 if the $32,000 resistance level is converted into a support base, according to crypto analyst Kevin Svenson. The potential approval of a spot Bitcoin ETF could also boost the price.
The prediction of a significant price surge for Bitcoin is based on the conversion of the $32,000 resistance level into a support base. This could trigger a massive uptick in Bitcoin's price. Additionally, the potential approval of a spot Bitcoin ETF could also act as a catalyst for the price surge.
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