Bitcoin rate approaches $25 000 for the first time in half a year
The price of the first cryptocurrency reached $24 905
16.02.2023 - 07:15
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What’s new? On February 16, the value of BTC approached $25 000 for the first time in six months, reaching $24 905. Previously, a similar figure was observed in August 2022 — $25 047. At 06:45 UTC, the price of the asset corrected to $24 685, having gained 14,68% in just one month, according to Binance. In this, many traders and analysts lately singled out $25 000 as an important price level that can show whether the BTC rate will move higher.
Experts’ opinions. Analyst Benjamin Cowen believes that bitcoin is on the verge of a potential trend change that could lead to higher quotations like in 2019, as the technical indicators pointing to it converge on the key level of $25 000.
In January, analyst Peter Brandt noted that a breakout from a “double-walled fulcrum” technical analysis pattern would result in BTC rising above $25 000. Later, crypto trader and investor Tone Vays stated that bitcoin faces serious resistance as it approaches $25 000. He specified that he expects either a consolidation of the rate in a narrow range or a slight pullback.
To learn the current predictions of other experts regarding the price movement of the first cryptocurrency, see GetBlock Magazine’s article.
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