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Bitcoin (BTC) has defied the odds today by igniting a notable price surge. Remarkably, it has tested new levels as more gains are now expected from the leading cryptocurrency on the market. Prominent analysts are expecting the start of a price breakout, potentially resulting in a new all-time high (ATH) for the coin.
Among them is Michaël van de Poppe, a renowned crypto trader and market analyst. Earlier today, he tweeted about this potential Bitcoin price rally. The analyst said that Bitcoin has already tested the $62K price level as expected and, currently, it is facing the next crucial resistance zone.
This resistance zone seems to be around the $65K price level. Michaël van de Poppe further mentioned that he is expecting an upward breakout for BTC. He predicted that this uptrend can happen this week or perhaps the next week. The analyst then mentioned that "Uptober" is finally expanding.
The broader crypto community has been eagerly waiting for "Uptober," a term used for the month of October as gains are expected this month. So far, the market has not witnessed any huge price rallies. But today’s Bitcoin price surge is now indicating the start of a more sustained price rally, as expected by experts and traders.
Bitcoin price targets $65,000
Michaël van de Poppe had previously predicted the end of Bitcoin’s consolidation period. He tweeted on Sunday that Bitcoin had already tested the $62K range, and the consolidation would end in one to two days. The analyst explained that a successful test of $64K would likely bring the big breakout for the BTC price.
Surprisingly, this Bitcoin price prediction came to fruition as BTC tested the $64K price range today. As of now, it is trading at $64,906, after a surge of 3.44% in the last 24 hours. The coin is now targeting the $65K range, and once it clears it, more significant gains are expected from it in the coming days.
Gamza Khanzadaev
Godfrey Benjamin
Dan Burgin
U.Today Editorial Team
Vladislav Sopov