Bitcoin, '95,000 Dollar' Target Emerges..."Bear Market Is Over"

▲ Bitcoin (BTC)

As Bitcoin (Bitcoin, BTC) maintains a strong trend around the $78,000 mark, veteran market analysts are unanimously pouring out optimistic forecasts and raising their price targets.

According to the cryptocurrency specialized media Daily Hodl on April 23 (local time), analyst DonAlt diagnosed that Bitcoin is raising its highs on a weekly basis and is on the verge of entering the $90,000 range. DonAlt emphasized that, excluding geopolitical factors, there is no reason to discuss a downtrend from a technical perspective. He predicted that Bitcoin would secure $82,000 and $86,000 as support levels and then surge by about 26% from its current level to $95,000.

Another analyst, Dave the Wave, also put weight on the possibility of further Bitcoin price increases. The analysis suggests that Bitcoin has secured bullish momentum by breaking through its upward trendline, which serves as a diagonal resistance. He presented a specific timeline, stating that Bitcoin would reach $95,000 by June. With the technical structure entering its completion phase, it is assessed that buying forces have completely taken control of the market.

Virtual asset trader Michaël Van De Poppe analyzed that Bitcoin's fundamentals remain strong. He explained that despite the minor correction in the market recently, Bitcoin's intrinsic value and upward momentum have not changed. Van De Poppe stated, "Despite small market corrections, almost nothing has changed for Bitcoin, and its momentum and technical structure remain intact." He predicted that Bitcoin would soon attempt to break through the resistance level of $86,549.

Bitcoin is currently trading around $78,065, up 1.2% from the previous day, and is preparing to reclaim the symbolic price level of $80,000. Market participants are encouraged by the analysts' consecutive bullish forecasts and are anticipating additional capital inflows. Trading volume also remains at a stable level, drawing an upward curve without significant downward pressure. If it breaks through key resistance levels, the market's energy is likely to erupt even more explosively.

Experts assess that Bitcoin has completely neutralized its past downtrend and reached the peak of a new bull cycle. Whether it breaks $80,000 is expected to be a crucial milestone that will determine the overall trend of the virtual asset market in the future. The target price of $95,000 presented by veteran analysts is not just a prediction but a reflection of fundamental changes in the market structure. Bitcoin now stands at the final gate for breaking its historical all-time high.

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