Bitcoin just hit a new all-time high (ATH) of over $109,000! This comes after a wild week of price swings.
The Big Bounce Back
Last Monday, Bitcoin took a dive down to around $89,000. But then, boom – a massive 22% jump sent it soaring to that record-breaking price. This has everyone super excited, with investors and analysts predicting even bigger gains are on the way.
Why the Hype?
Part of the excitement comes from the incoming administration. People are hoping for policies that are friendly to crypto, potentially giving Bitcoin a huge boost.
Technical Analysis Points to More Gains
Analyst Jelle, a well-known figure in the crypto space, shared some compelling technical analysis. He pointed out that Bitcoin broke out of a descending triangle pattern on a chart, then retested that breakout point and held strong, before shooting up to a new ATH. This is a strong bullish signal, suggesting more gains are likely. Jelle even predicts Bitcoin could hit the $130,000 mark!
The Next Big Move
Bitcoin is now in uncharted territory, and everyone’s watching closely to see what happens next. Holding above $106,000 is key for maintaining the positive momentum. Breaking through $110,000 would likely trigger a flood of new buyers, pushing prices even higher. However, if it drops below $106,000, we could see a correction, potentially slowing things down. The next few days will be crucial in determining Bitcoin’s next move.
