Crypto analysts agree that Bitcoin (BTC) 
$63,036 could reach new all-time highs if it surpasses a critical resistance level. An anonymous trader, Inmortal, shared insights with his 216,300 followers on X, stating that he expects a significant increase in Bitcoin’s value if it crosses the $64,000 mark.
Inmortal’s Prediction
Inmortal expresses that Bitcoin’s recent decline has formed a local bottom. He noted that the drop from approximately $66,000 to $60,000 between September 29 and October 2 signals positive trends from a technical analysis perspective. Inmortal argues that Bitcoin will break its all-time record if it exceeds the $64,000 price point.
Kaleo’s Perspective
Kaleo suggests that Bitcoin may decline to levels between $57,000 and $58,000 in the near term. However, he believes that after this dip, the cryptocurrency will recover and experience a strong rally post-elections.
Market Status
As of the writing, Bitcoin is trading at $61,948, having seen a 2.1% increase in the last 24 hours. The market’s volatility supports the diverse predictions made by analysts.
Investment Strategies
Inmortal focuses on two points for long-term investment in BTC: when it shows a swing failure pattern (SFP) around the $60,000 level or when it is accepted above $63,000. Kaleo advises investors to accumulate BTC during potential downturns, believing that these holdings will appreciate in value regardless of market fluctuations.
Current Situation
These varying predictions in the Bitcoin market urge investors to remain cautious and closely monitor market trends. Analysts’ forecasts indicate that Bitcoin can exhibit significant volatility based on technical analysis and market dynamics. It is crucial for investors to conduct their own research and implement effective risk management strategies.
