Bitcoin Price Predicted to Fluctuate Throughout the Year
The movement of Bitcoin prices is indeed one of the most interesting things to pay attention to. Analyst from Tokocrypto, Fyqieh Fachrur, has predicted that the price of this leading cryptocurrency will continue to experience fluctuations. Recently, the price of Bitcoin strengthened due to the decision of the US Federal Reserve to hold interest rates.
Fachrur identified a bullish pattern on the daily BTC chart, which could potentially push the price to reach the $90,000 level, especially if The Fed shows a more dovish stance towards monetary policy. He also mentioned that the volatility of Bitcoin prices is likely to remain high in the coming months.
According to Fachrur, if Powell indicates a rate cut at the end of this year, Bitcoin could test the $90,000 level. However, if monetary policy remains tight, there is a risk of a decrease to $76,000. Aside from The Fed’s policies, geopolitical factors can also play a crucial role. Events such as the US government’s decisions on crypto regulations, as well as global geopolitical conflicts, can significantly influence the movement of Bitcoin prices.
Bitcoin continues to demonstrate its appeal as a key investment asset amid global economic uncertainty. With a market dominance of 60.7% and a market capitalization of $1.73 trillion, investor interest remains high. However, investors need to consider various factors that can affect prices, including monetary policies, institutional inflows, and geopolitical dynamics.
For investors looking to take advantage of this volatility, understanding support levels at $80,000 and resistance levels at $85,500 and $87,000 is crucial in making wiser investment decisions. Fachrur emphasized the importance of being aware of these key levels to navigate the fluctuations and make informed investment choices.
