Bitcoin is approaching a historic high, analysts predict new records

As you know, on October 29, the bitcoin market (BTC) reached a new monthly peak of $ 72,747.03, approaching a historic high of $ 73,000, and over the past week, its value has increased by 7.9%.

Captain Faibik analyst noted that bitcoin has broken through an eight-month consolidation period and shared his forecasts for potential further market movements.

The cryptocurrency expert shared a chart showing that the BTC market has been consolidating in a so-called «downward extended wedge» pattern for the past eight months, and now the market has gone beyond this pattern.

It is worth noting that since October 26, the price of bitcoin has risen by 8.62%, and only in the last day it has risen from $ 69,987.62 to $ 72,747.03, which is an increase of 3.94%.

The crypto analyst suggests that bitcoin could reach $ 88,000 to $ 90,000 by the end of next month or early December. It is also noted that a possible goal is to reach $ 100,000.

As of October 30, bitcoin was trading at $ 72,363.53, just 0.87% below its all-time high.

Since October 11, the market has risen by an impressive 19.97%, demonstrating an uptrend and boosting investor confidence.

Continuing to grow, bitcoin may soon reach the targets predicted by analysts.