On the evening of January 29, Bitcoin’s price drew close to the $24,000 level. Over the past 24 hours, the asset rose 2.1%, according to CoinGecko.
At one point, digital gold surpassed the $23,960 mark. The current price is $23,658.
Ethereum rose 2.4% over 24 hours. At the time of writing, the second-largest cryptocurrency by market cap remains above $1,625.
Following the leaders, assets from the top 10 moved into the green zone. At the time of writing, Dogecoin was the exception — the coin fell by 0.1%. The total market capitalization stood at $1.1 trillion.
The cryptocurrency fear-and-greed index for the month moved from \”extreme fear\” to \”greed,\” reaching 61 points.
According to a CoinGecko poll, 32.1% of 4,306 participants think Bitcoin will be in the $25,000–$26,000 range this week. Meanwhile, 21.4% expect a price pullback below $22,000.
On January 29, Blockware’s chief analyst Joe Burnett ruled out that the first cryptocurrency could reach and surpass the all-time high at $69,000 before the next halving in 2024.
I do not think Bitcoin will make a new all time high until after the 2024 halving.
Dovish macro conditions and decreased miner sell pressure will lead to the next parabolic bull run.
Using Energy Gravity as a potential top indicator, I expect the next peak to be $150k — $350k. pic.twitter.com/OfCER7s8Zq
— Joe Burnett (🔑)³ (@IIICapital) January 29, 2023
Founder Jeff Rossi of Vailshire suggested that in the near term Bitcoin could rise to $25,000.
The strength of #bitcoin on the 4-hour charts continues to be impressive.
While price action has trended sideways for over a week, short term indicators (MACD, RSI) have once again reset… and are now ramping higher.
A price surge to ~$25k is probable.
(Not investment advice) pic.twitter.com/QaPbNrxtxZ
— Dr. Jeff Rossi 🔥🐂🔥 (@VailshireCap) January 29, 2023
On the night of January 12, Bitcoin prices for the first time since mid-December 2022 rose above the $18,000 level on the back of inflation data in the United States. In the evening of the same day, the asset continued to rise and tested $19,000 .
Subsequently, the price of digital gold crossed the $21,000 mark , and on January 21 surpassed the $23,000 level for the first time since August 2022.
As noted, Adam Farting of B2C2 said that for the continuation of the rally of the first cryptocurrency to be achieved, it must break through the important level at $25,000.
Earlier, LookIntoBitcoin analysts allowed Bitcoin to move into the early stage of a bull market.
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