BTC: The top could be around 80k!

Mar 6

I admit I was mistaken to assume that the price of Bitcoin would decrease after reaching 40k. Yesterday, it hit a new all-time high of 69.125$; however, the selling pressure was too much for the price to continue rising. Currently, the price is settling down, and it's uncertain where it will go next. If the resistance trendline holds any significance, the current rally's peak could be around 80k. However, before that, the price must surpass a strong resistance zone. If it manages to do so, then reaching 80k won't be far off.

I believe that the price of BTC will continue to rise and could reach 80k before the rate cuts take effect. Once the rate cuts are implemented, there will be a significant change in the crypto and stock markets! However, until then, it is advisable to take advantage of the current bullish trend in the crypto market.

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