The Bitcoin price continues to hit all-time highs as it surpasses the $26,000 level. Many analysts are forecasting that BTC will hit $29,000 soon. In this article we will provide some Bitcoin price predictions and key levels to watch.
Analysts are anticipating that Bitcoin will continue to test the $29,000 level and could possibly hit a high of $29,500 before a pullback. If this bullish momentum continues, BTC could also make a run up towards $30,000 or even higher. It will heavily depend on if bulls manage to break and sustain an upcoming resistance.
The current bull run is being driven by institutional investors and retail traders betting on the cryptocurrency. Although there is plenty of bullishness around BTC, investors should keep in mind that it’s possible that the cryptocurrency could be subject to a pullback. Should the $29,000 level not hold and BTC should start to see a pullback, traders should then pay attention to the $25,500 and $24,000 level which both act as potential supports.
Several analysts expect BTC to hit a high of $30,000 in the near future, most bullish traders believe Bitcoin has strong fundamentals and is here to stay for the long-term. With more institutional investors jumping in, the price of the cryptocurrency could continue to rise. The key levels to watch are any rejections around the $29,000 level, $25,500, and $24,000.