Analysis: The price of Bitcoin will have to rise at least to $90,000 to $100,000 before it faces a new consolidation period or pullback
PANews reported on May 22, according to Cointelegraph, a cryptocurrency trader nicknamed "Roman" stated in an interview that the current cryptocurrency market is in a "real bull market", with both fundamentals and technical aspects showing positive trends. He analyzed that although the price of Bitcoin had previously fallen from its historical high of $73,738 to $58,000, this adjustment has laid a solid foundation for future price increases. Roman specifically mentioned the "bullish reversal pattern" that appeared on this week's Bitcoin price chart, considering it as a strong signal indicating that it is unlikely for Bitcoin to enter a consolidation period before surpassing its historical high of $73,679 on March 12 and increasing by at least 20%. He asserted that the price of Bitcoin will rise to at least $90,000 to $100,000 before facing a new consolidation period or pullback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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