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

640

1 min

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.

Binance’s data

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.

Author: