Bitcoin's recent surge past the $29,000 mark has caught the attention of prominent traders and analysts, including Peter Brandt, who took to Twitter to predict an imminent breakout for the flagship cryptocurrency.
This comes on the heels of Bitcoin reaching its highest price level since June 2022.
Trader Scott Redler also chimed in, stating that Bitcoin appeared ready for additional gains in his tweet.
Analyst Holger Zschaepitz highlighted the billion-dollar dilemma faced by investors: should they choose gold or Bitcoin? As the yellow metal's price dropped below $2,000, Bitcoin reached yet another year-to-date high.
As reported by U.Today, technical analyst John Bollinger suggested on Twitter that Bitcoin is approaching a squeeze, which indicates that a significant price movement is likely to be imminent.
The flagship cryptocurrency is currently trading at $29,145 on the Bitstamp exchange, and the buzz around its potential breakout is growing.