Two different cryptocurrency analysts have opposing predictions for Bitcoin (BTC) 
$59,328. However, both have their reasons. By considering the views of different analysts on the markets, we can look at the current situation from different perspectives. These evaluations published on COINTURK offer readers the opportunity to gain different viewpoints while forming their own strategies. So, what is the BTC target price? What do experts say about how much Bitcoin can reach?
The Relationship Between Bitcoin Price and News Flow
We can list many reasons for any major movement in the price of Bitcoin (BTC). For example, Mt Gox wallets become active, and BTC dips below $50,000. Reasons for this could include the negativity of September, lack of buyers, excess supply that has been tiring the markets for months, and many more.
Similarly, if the price reaches $70,000, we could again have valid reasons. The possibility of Trump winning the November elections, the first Fed rate cut coming in 9 days, preparation for the historical fourth-quarter rise, whale accumulation over months, and many more reasons can be listed. Even broader reasons like the resolution of Binance‘s issues with the US and the significant resolution of Germany and Mt Gox FUDs can be provided.
Therefore, we can say that cryptocurrencies do not fluctuate solely based on news flow and that news is not the only thing determining BTC’s price. If dozens of different reasons can be cited even now as a result of major movements in both directions, we can see these as momentum-boosting factors.
What Will Be the Price of Bitcoin?
The first analyst is known by the username Ali_Charts, an on-chain and technical analysis expert. According to him, Bitcoin (BTC) is playing with fire and risks falling to $41,100. What is this based on? Of course, it is based on the historical performance of the MVRV chart he shared below. Ali wrote the following on this matter;
“According to Bitcoin MVRV Pricing Bands, it is very important to monitor the $54,240 support level. Breaking this level could lead to a correction down to $41,100!”
So who is targeting $70,000 in the opposite direction? That would be the analyst known by the pseudonym Crypto Rover, who says;
“Billions of dollars worth of #Bitcoin short liquidity lies around $70,000. We could test this area.”
The frequent visits to intense liquidation levels in the futures market in the past also lead the second analyst to target $70,000. So, which prediction will come true? Since we cannot see the future, time will show us which one will be proven wrong.
