"Bitcoin's Bullish Momentum: Factors and Forecasts"
TL;DR Summary
A new bull cycle for Bitcoin could be sparked by several factors, including the upcoming halving in April 2024, BlackRock's Bitcoin ETF application to the SEC, Bitcoin's rising dominance in the crypto market, and technical indicators such as a bull flag pattern and an inverse-head-and-shoulders pattern. Analysts predict Bitcoin could test its record high of $69,000 in the next 18-24 months and even reach $160,000 by April 2024. However, Bitcoin will need to close decisively above $35,500 to begin a bull cycle.
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