Bitcoin (BTC) is typically traded for under $120,000 since ATH exceeded $123,000 on July 14th. However, yesterday, BTC temporarily surpassed $122,000, bringing it very close to the previous ATH.
Although FXPRO senior analyst Alex Kuptsikevich, who shared the current analysis, had been wondering what direction Bitcoin was then pulled back to under $120,000.
Bitcoin’s next goal ranges from $135,000 to $138,000!
Speaking to Coindesk, Alex Kuptsikevich reported that Bitcoin has breached the $120,000 technical barrier, increasing the chances of a rise.
Speaking about the possibility of further increase in Bitcoin, analysts said BTC’s closest price target is currently between $135,000 and $138,000.
“Bitcoin has already broken through the $120,000 technical barrier.
The current nearest price target is between $135,000 and $138,000.
“And that’s one of the rare cases where Altcoin’s massive rally has encouraged Bitcoin gatherings.”
Meanwhile, Bitfinex analysts said Bitcoin is beginning to rise, but prices rely on important data, such as the US Consumer Price Index (CPI), which will be released this week.
“Whether or not Bitcoin’s upward momentum continues depends on macroeconomic data from the US,” Bitfinex analysts said.
At this point, CPI data that exceeds expectations can cause an update in sales pressure.
It’s not surprising that Ethereum breaks the record!
Alex Kuptsikevich also commented on Ethereum (ETH). As he offers a positive outlook for Ethereum as well as Bitcoin, Kuptschkevich said it is possible for Ethereum to surpass the $4,891 price that reached in November 2021.
“Ethereum prices have risen by more than 21% in the last seven days and 45% in the last 30 days. Transaction volumes and address growth on the chain are also approaching record highs.
“And it’s not surprising that it will reach a new all-time high in the next few days.”
*This is not investment advice.
