- Cryptanalysts expect that Bitcoin will rise in price to $90,000.
- They think, that Bitcoin all more underestimated, and it has the potential for further growth.
Last day Bitcoin has risen more than 1,4% to $80,900, and crypto analysts believe the flagship cryptocurrency has every reason to continue its upward trend and reach $90,000.
Michael van de Poppe wrote that the upward trend is continuing, citing BTC’s recent rebound from the 21-day moving average.
The trend isn’t over. It looks like BTC will continue its upward movement. There’s no reason to expect a correction. In fact, there’s more reason to expect continued growth. Otherwise, the trend is clearly continuing, and it’s only a matter of time before the market tests the highs and likely breaks through $90,000. For me, this is a critically important mark, and I still expect it to be tested in May-June. wrote cryptanalyst.
His colleague from CryptoQuant suggested that Bitcoin may still be undervalued despite its recent rise. According to his own model of the influence of BTC flows,ETF, the flagship coin is currently 11,2% below its fair value of $88,144. And only the inflow of funds into Bitcoin- funds will be able to reduce the gap between the market and fair price of an asset.
Another analyst, Ali Martinez said Bitcoin’s ascending channel, which began to form in April, rose 11% to $78,000 after bouncing from $71,000 on April 13. At the end of April, BTC held at $75,000 and rose to $82,000. Bitcoin The price is testing the lower boundary of the channel at $79,000. If support is maintained, it could reach $86,000, but a break below this could weaken the bullish structure and trigger a decline.
And of course, we can’t forget about CLARITY law, which was approved by the US Senate Banking Committee by a vote of 15 to 9. Market participants view it as a positive sign for further growth of Bitcoin and other cryptocurrencies.
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