Bitcoin Needs to Break $65,000 as a Sign of a Bull Market?
2024-09-25
Bittime - According to the crypto research institute 10x Research, Bitcoin price is currently facing the deciding phase. The $65,000 level is considered Bitcoin's tipping point.
If it manages to cross the $65,000 level, it could signal the long-awaited resumption of the bull market. Read this article to find out more!
Bitcoin Price Down Since March
Since mid-March 2024, Bitcoin prices has experienced significant fluctuations. According to 10x Research, Bitcoin has gone through volatility resulting in 4 lows.
Interestingly, level $65,000 considered a critical point that could reverse this downward trend. If the Bitcoin price manages to pass this figure, the Bitcoin price is predicted to rise again, potentially even reaching the figure above $70,000.
Moment of Bitcoin Price Falls, Investors Turn to Altcoins
One interesting trend observed in recent months is the shift in investor interest away from Bitcoin the altcoin. Although Bitcoin remains the largest crypto asset, altcoin trading volumes have increased rapidly in recent times.
In South Korea, for example, Bitcoin was previously the main choice for traders. However, since August 2024, this trend has changed. Altcoin like Ethereum, Solana, and several other projects are starting to dominate investor interest.
This shift shows that investors are increasingly willing to take higher risks to gain greater profits from altcoins.
Read Also: Bitcoin Price Predicted Breakthrough Based on Historical Patterns
The $65,000 Level as a Sign of Bull Market
Besides 10x Research, Will Clemente, founder Reflexivity Research, also emphasizes the importance of levels $65,000 for Bitcoin.
Clemente believes that to confirm the bull market, Bitcoin needs to cross the $65,000 level. This figure is considered a critical point that will change the market structure and attract investor interest again.
Meanwhile, based on the Bittime market, the Bitcoin price was at IDR 971,593,361 or $64,360 when this article was written. Can Bitcoin break the $65,000 level and start a bull market? Let's continue to monitor developments!
Read Also: Bitcoin Price Predicted to Reach New ATH Later This Year
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Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
