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Here's How Bitcoin May Reach $24,000, Analyst Explains

Wed, 10/26/2022 - 11:58
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Yuri Molchan
Analyst opines on what may help Bitcoin finally jump to $24,000 level
Here's How Bitcoin May Reach $24,000, Analyst Explains
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Analyst Ali Martinez has shared a chart, showing how Bitcoin may be propelled toward the $24,000 price line from the current $20,658 level.

"Bitcoin is gaining strength," "an upswing to $24,000" may occur

Ali Martinez believes that Bitcoin is becoming stronger at the moment, analyzing a BTC chart, as the weekly BTC RSI has moved up above 37.

Once a "sustained move" above the 21-week moving average takes place, this may lead to a rise to the 200-week MA at the $24,000 level, Ali believes.

As reported by U.Today earlier this week, prominent trader Scott Redler tweeted that it is time for the largest digital currency on the market to surge a little higher.

Cardano's Hoskinson: Perhaps Ethereum Is Now a Security

Bitcoin may stay in $17,600-$25,000 range

According to Bloomberg, a recently conducted MLIV Pulse survey shows that investors expect Bitcoin to continue trading in the range between $17,600 and $25,000 this year. Besides, they believe that the recent investigations of the SEC against several crypto platforms, two of which have gone bankrupt — Celsius, Three Arrows Capital and Yuga Labs — would have a positive effect on the crypto space as a whole.

Respondents believe that the space will become safer and generally "better off" with a larger amount of regulation added to it.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at