Veteran Bitcoin trader predicted that Bitcoin is ready to show a big pump & hit $97k but there is a catch.
The current trade price of Bitcoin (BTC) is $70,660 & this trade price is 5.5% higher over the last 24 hours.
A popular Bitcoin analyst shared his analysis and said that Bitcoin is ready to hit the $97k level. According to his analysis, the next couple of days will be very important for the Bitcoin market.
#Bitcoin $97,000 Target still in play.
The bull flag I told you about is playing out.
Little caution here though. A death cross just occurred on the daily timeframe.
Let's see in a couple of days if it's a fake one or not.
pic.twitter.com/bzPIanB0xw
— Titan of Crypto (@Washigorira) March 25, 2024
Another Bitcoin analyst said that if the trade price of Bitcoin suddenly pumps to a $75k level on 27 March then surely it will change the whole market game, as the trade price of other crypto assets will plunge drastically.
Analysts also predicted that the sudden pump will parallelly impact the stock price of Bitcoin bull firm Microstrategy (MSTR).
The current trade price of MSTR stock is $1,856 & this trade price is 21.86% higher over the last 24 hours.
Bitcoin halving
As per the current Bitcoin network hash rate, the Bitcoin blockchain will go through a halving process after 24 days.
After the completion of Bitcoin halving, the reward for each block will be reduced to 3.125 BTC from 6.25 BTC.
Past Bitcoin halving cycles showed that the trade price of Bitcoin surged by 100% in step-by-step phases in 365 days, post-Bitcoin halving.
So here we can conclude that any big dump in the Bitcoin trade price will be an opportunity for those who are not in Bitcoin.
Read also: Grayscale executive says ETH spot ETF case is just as “strong as it was for spot Bitcoin ETFs”
Bitcoin suddenly hits $71k, now heading toward $97k?
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