Cryptocurrency Bitcoin has a chance to grow in the near future

Several cryptocurrency experts have predicted a rapid growth of the BTC rate in the coming weeks. Among them is the well-known analyst and trader Mikybull Crypto, who announced a 60% increase in quotes.

According to Mikybull Crypto, he analyzed the price of BTC $97,954.69 Bitcoin 3.81% Market capitalization $1.94 trillion VOL. 24 hours $6.56 billion and noted encouraging signs on the weekly chart of the BTC/USD pair. The expert assured that since bitcoin is still in the narrow trading range it entered almost 3 months ago, traders should expect it to continue to move.

«The market is still in the same position as it has been for the past few days, weeks, and months. Don’t get frustrated, place some orders at the extremes and wait ,» said another expert under the pseudonym Yelle.

Mikybull Crypto emphasized that the high timeframes indicate much more interesting price activity in the near future. He assured that the inverted head and shoulders pattern is being retested on the weekly chart. According to the analyst, this is a «bullish analog» of the standard Head and Shoulders pattern, which demonstrates a strengthening resistance level.

«I expect digital gold quotes to rise by 60%. If this happens, the price of bitcoin will reach around $ 40,000 in the near future,» Mikybull Crypto summarized.

Cryptocurrency analyst and experienced trader Tonny Weiss said that the latest correction in the BTC gives bulls a great opportunity to buy the largest cryptocurrency by market capitalization at reduced prices. According to the expert, investors were frightened by the news that the U.S. Securities and Exchange Commission (SEC) had filed a lawsuit against Binance and its CEO Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, which caused the BTC rate to fall.

«I'm still convinced that the SEC and Binance litigation is a favorable situation to buy on the dip. Thedecline in the value of BTC is related to the news, people panicked a bit,» the analyst emphasized.