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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Market Expert Predicts Bitcoin Could Reach $100,000 Within 90 Days

Ronaldo Marquez
Ronaldo Marquez
11 months ago
3 mins read
Bitcoin

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Despite the Bitcoin price consolidating between $65,000 and $68,000 over the past few days, analysts are increasingly optimistic about the potential for upward movement and new all-time highs for the largest cryptocurrency on the market in the coming months. 

Bitcoin Surge Regardless Of US Election Outcome

In a recent social media post on X (formerly Twitter), market expert Timothy Peterson highlighted a basic trendline for the period 2023-2024, suggesting that current price behavior mirrors previous uptrend patterns. 

In his analysis, Peterson asserts that a move just above this trend could see Bitcoin reaching $100,000 within the next 90 days, a prediction he considers entirely reasonable. 

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Peterson’s analysis indicates that a conservative estimate places Bitcoin at this milestone by February, regardless of the outcome of the upcoming US elections, which could also have a notable impact on BTC’s price performance. 

The expert also noted that BTC does not appear to be overvalued, making a drop below $60,000 increasingly unlikely, especially as the $66,000 support level has prevented a further correction over the past week.

Crypto analyst Rekt Capital, has also expressed bullish sentiments, stating that Bitcoin is positioned for a strong weekly close above critical support levels. 

The recent retest of the key $66,000 support proved successful, with BTC rising to the $68,000 mark in Thursday’s trading session, coinciding with significant regulatory developments in the US. 

BTC Price Spikes 2.5% Following Legislative Advances 

As reported by Bitcoinist, the Pennsylvania House of Representatives recently passed the ‘Bitcoin Rights’ bill, aimed at safeguarding individuals’ rights to self-custody their digital assets, affirming their ability to use Bitcoin for payments, and establishing clear taxation guidelines for Bitcoin transactions.

Dennis Porter, founder of the Satoshi Action Fund, emphasized the importance of this legislation in shaping the political landscape as the country approaches the 2024 elections. 

Announcing the news, Porter noted that BTC adoption is growing, creating a motivated voter base eager for political allies who champion financial freedom and innovation. He believes that this voter base crosses traditional party lines, appealing to those who prioritize economic autonomy, technological advancement and digital privacy.

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Porter also pointed out that Bitcoin serves as a potential escape from Central Bank Digital Currencies (CBDCs), resonating with many voters who feel strongly about financial sovereignty and resistance to centralization. 

With just 12 days until what is being dubbed by Dennis as the most significant Bitcoin election in recent history, he urged both Donald Trump and Kamala Harris to leverage their influence within their respective parties to ensure the smooth passage of the ‘Bitcoin Rights’ bill.

In light of these developments, Bitcoin has experienced a 2.5% surge in price over the past 24 hours, accompanied by a notable 10% increase in trading volume, which has reached nearly $33 billion. 

Bitcoin
The daily chart shows BTC’s price recovery of the $68,000 zone. Source: BTCUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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