Bitcoin (BTC) managed to surpass $40,000 again. What's the next target?
Most recently, Bitcoin, which was over $ 40000 on June 16, fell to $ 28805 with the drops. Bitoin, which has been stuck between $30000 and $36000 for 1.5 months, has drawn a V chart for a long time. But at these points, he consolidated his power and support. Bitcoin continues the upward trend it has caught for a few days. Today, it managed to surpass $40,000 again with a successful rise.
Bitcoin (BTC) rose 17% to reach $40550 today. Price adjustment may follow this rise. Therefore, there may be a slight decrease. But that doesn't matter. Currently, Bitcoin has solid support and investors' BTC buying volume is quite high. If it manages to stay above $40000, it could reach $45,000 in the first week of August. In fact, I think it will test to pass $ 50000 in August. Currently trading at $40121.
Until last week, pessimism prevailed in the markets. I wrote in my article 3 days ago that this is the harbinger of a bull run. It is still early for the bull season, but I can say that it is very close. As this upward trend in Bitcoin (BTC) continues, altcoins will follow this rise. After Bitcoin (BTC) exceeds $ 50000, I think that many strong cryptocurrencies, especially ETH, BNB, HIVE, will make a bull run faster than Bitcoin.
I think the opportunity for investment has not been missed yet. But during this rapid rise, FUD attacks will increase. But I can say that the crypto market is stronger than before. That floating crypto market will overcome these attacks. But are investors immune to these attacks? We will see this in the coming days. I think the markets are ready for a bull run now.
In short, the crypto markets started a new uptrend and I think it will continue. Even if there are slight regressions, the rise will continue. I think the real rise will start in September. But it looks like it could be sooner. Currently, Bitcoin (BTC) will try to stay above $ 40000, if it can stay for a long time, it will continue the upward trend. But if it fails to stay above $40000, it has solid support at $38000 and $38700. So even if it can't stay above $40000 for long, it will try again. And it will eventually build support here by staying above $40000. The next target will be $45000. It will try to exceed this target in the first week of August. If successful, it could move towards $50000. But I would like to point out that I think the real rise will be in September.
In addition, I would like to point out that it is normal for price adjustments and regressions to occur after each rapid rise. Cryptocurrencies can have dips to strengthen supports after rapid rises. If they can strengthen the supports they will make the next rise further.
Bitcoin (BTC) is determined to reach $100000 towards the end of this year. If Bitcoin can meet these targets, other cryptocurrencies, especially ETH, BNB, HIVE, will start a bull run faster than Bitcoin.
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