Renowned analyst sets $90,000 target for Bitcoin
- A crypto analyst has revealed a pattern that indicates an upcoming breakout in BTC price.
- Per the expert's prediction, BTC price targets $85,000-$90,000 area for the end of 2021.
- Bitcoin hit a new all-time high above $68,641 and entered price discovery earlier on Tuesday.
Bitcoin has posted over 10% gains in the past week. The asset hit a new all-time high earlier on Tuesday. Analysts have confirmed that Bitcoin's recent breakout was predictable, based on a single pattern in BTC price trend.
Bitcoin price eyes $90,000 as the price continues to climb
Bitcoin price recovered from the dip over the weekend and hit a new all-time high of $68,641. The asset witnessed its highest weekly close, fueling a bull run.
Pseudonymous cryptocurrency analyst @crypto_birb is bullish on the current Bitcoin price trend. The analyst confirms Bitcoin's strength on the technical and onchain side. @crypto_birb notes that a triangle breakout in the BTC price chart with a base of $36,000 sets a target of $85,000 to $90,000.
The analyst's June/July prediction of Bitcoin price was 100% accurate. The next key resistance in his outlook is at $89,364.
@crypto_birb forecasts that the BTC price is likely to hit $90,000 in the ongoing bull run in his recent tweet.
HUGE $BTC $90k breakout confirmed. My #Bitcoin market report gives complete technical, onchain and sentiment proof and its unquestionable it will save you lots of time and money. Free for all. If you appreciate it just share around and enjoyhttps://t.co/705JekUCa6 pic.twitter.com/UxKGqdGpt4
— CRYPTO₿IRB (@crypto_birb) November 8, 2021
Jack Dorsey, CEO of Square, announced that the company plans to steer clear of NFTs and work on making Bitcoin the "native currency of the internet." In mid-October 2021, Dorsey's Square doubled its investment in Bitcoin, bullish on the most prominent cryptocurrency.
The American financial services company has multiple new projects in the making, expected to boost Bitcoin's accessibility and utility. A whitepaper of Square's new business unit TBD is expected to go live on November 19.
FXStreet analysts have evaluated the Bitcoin price trend and predicted that BTC has the most bullish setup ever. Analysts expect the Bitcoin price rally to keep going.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
