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Bitcoin Predicted to Reach $190,000 by Crypto Analyst Based on Historical Analysis

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By Blockchain Daily

Bitcoin, the world’s leading cryptocurrency, has crossed the $30,000 threshold, signaling an optimistic future for the digital asset.

Based on historical chart patterns and analysis, BitQuant, a pseudonymous crypto analyst, predicts that Bitcoin may reach $190,000 before establishing a new bottom in the $29,000-$30,000 range.

BitQuant’s analysis is based on observed behavior in 2020 and 2021, during which Bitcoin underwent two retests after breaking the 10-week EMA, leading to a price surge towards the ATH of $69,000.

It is important to note that investing in cryptocurrency carries risks and should always be approached with caution.

While the optimism surrounding Bitcoin’s future is not unwarranted, market fluctuations and unpredictable events can have a significant impact on the value of digital assets.

Therefore, investors should conduct thorough research and seek professional advice before making any investment decisions.

The recent milestone achieved by Bitcoin has sparked optimism among cryptocurrency experts.

Although the future is unpredictable, the widespread acceptance and market dominance of Bitcoin make it a popular choice for investors and traders.

However, it is important to always approach cryptocurrency investments with caution and conduct thorough research before making any decisions.

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