Here’s Why Bitcoin Price Is Rising Today
The post Here’s Why Bitcoin Price Is Rising Today appeared on BitcoinEthereumNews.com. Bitcoin price rally seems unstoppable at this point as the world’s largest asset gains another 6% today hitting a fresh all-time high of $97,457 and moving closer to the $100K milestone. Bitcoin seems to consolidate further ground against altcoins taking its market dominance to more than 60.5%. Amid today’s BTC rally, the ETH/BTC pair has touched a three-year low with analysts predicting a Bitcoin surge ahead to $135,000. Why Is Bitcoin Price Rising Today? Earlier today, the ETH/BTC pair broke the trendline hitting a three-year low since March 2021. This development could further delay the altcoin season ahead as Bitcoin’s outperformance continues in this market. A letter from the grave???? $ETHBTC pic.twitter.com/FALauZ8M7R — Peter Brandt (@PeterLBrandt) November 21, 2024 Commenting on this, market strategist Bitcody wrote: “I believe ETH/BTC could bottom next month. Historical data supports this – December has marked the ETH/BTC bottom in 6 of the last 8 years. If December follows its usual pattern, we could see ETH/BTC find its footing soon”. As Bitcoin veils more power, altcoins are once again losing steam after last week’s rally. QCP Capital recently stated that Ethereum participation is a must for the altseason to begin. Thus, it’s unlikely to happen until the ETH/BTC pair rebounds and shows strength. On the other hand, analysts predict the Bitcoin price rally to continue further. Popular crypto analyst Ali Martinez noted that Bitcoin is repeating the four-year chart pattern, and will replicate a similar move as in December 2020. He also said that there are striking similarities for the Bitcoin RSI as well. “If history repeats itself, Bitcoin could first rally to $108,000, experience a correction to $99,000, and then surge to $135,000,” Martinez predicted. Courtesy: Ali Charts Legendary trader Peter Brandt has also shared a similar Bitcoin chart after the US elections. It…
The post Here’s Why Bitcoin Price Is Rising Today appeared on BitcoinEthereumNews.com.
Bitcoin price rally seems unstoppable at this point as the world’s largest asset gains another 6% today hitting a fresh all-time high of $97,457 and moving closer to the $100K milestone. Bitcoin seems to consolidate further ground against altcoins taking its market dominance to more than 60.5%. Amid today’s BTC rally, the ETH/BTC pair has touched a three-year low with analysts predicting a Bitcoin surge ahead to $135,000. Why Is Bitcoin Price Rising Today? Earlier today, the ETH/BTC pair broke the trendline hitting a three-year low since March 2021. This development could further delay the altcoin season ahead as Bitcoin’s outperformance continues in this market. A letter from the grave???? $ETHBTC pic.twitter.com/FALauZ8M7R — Peter Brandt (@PeterLBrandt) November 21, 2024 Commenting on this, market strategist Bitcody wrote: “I believe ETH/BTC could bottom next month. Historical data supports this – December has marked the ETH/BTC bottom in 6 of the last 8 years. If December follows its usual pattern, we could see ETH/BTC find its footing soon”. As Bitcoin veils more power, altcoins are once again losing steam after last week’s rally. QCP Capital recently stated that Ethereum participation is a must for the altseason to begin. Thus, it’s unlikely to happen until the ETH/BTC pair rebounds and shows strength. On the other hand, analysts predict the Bitcoin price rally to continue further. Popular crypto analyst Ali Martinez noted that Bitcoin is repeating the four-year chart pattern, and will replicate a similar move as in December 2020. He also said that there are striking similarities for the Bitcoin RSI as well. “If history repeats itself, Bitcoin could first rally to $108,000, experience a correction to $99,000, and then surge to $135,000,” Martinez predicted. Courtesy: Ali Charts Legendary trader Peter Brandt has also shared a similar Bitcoin chart after the US elections. It…
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