| json_metadata | "{"app":"musing/1.1","appTags":["bitcoin","cryptocurrency","blockchain","musing"],"appCategory":"bitcoin","appTitle":"Can Bitcoin Prices Touch US $60,000 in this Bull Cycle?","appBody":"<p>Reporting from CCN, the bitcoin price rally shows no signs of stopping. The flagship crypto currency has touched the figure of US $ 11,000 once again and calls continue to grow that BTC will continue to fly higher. Crypto trader Josh Rager is one of them calling for a rapid increase in the price of bitcoin from Satt and so on. He is very brave to make predictions that will become \"music\" for bitcoin fans who have experienced a turbulent journey over the past year but are now reaping the rewards. In a recent series of tweets, Rager showed that once the price of bitcoin passed US $ 11,700, it would find little resistance and break to the highest number we have never seen before.</p><p>With more than 43,000 followers, Rager is a well-followed bitcoin trader who supports his wild claims with technical data. At the end of last month, he showed that every bitcoin bull cycle was longer than the previous one. Since Rager estimates that we are only 25% in the current bull cycle until the price of bitcoin reaches the next peak, this crypto currency still has plenty of room for growth. However, he believes that there will be resistance when the figure is US $ 11,700 because bitcoin prices tend to rally for five weeks before reaching its limit. The last setback was only a few weeks ago. So, bitcoin must continue to run higher for others, according to Rager's technical analysis. If that really happens, the price of bitcoin should be able to break the resistance of US $ 11,700 and increase that number further. Rager is one of many bulls who have called for new highs in history.</p><p>Crypto analysts, Galaxy, recently painted a target price of US $ 62,000 for bitcoin based on past trends and technicality, which shows that the crypto currency can reach that level by the end of October 2019. Meanwhile, founder of research firm Wall Street Fundstrat Global Advisors Thomas Lee also has a large target price for bitcoin. He expects the crypto currency to quadruple after passing the level of US $ 10,000 FOMO. Rager estimates add to the appeal of bitcoins other than Galaxy and Lee, although he believes that there is more to the current rally than just a technical pattern. The crypto trader shows that bitcoin will experience maximum inflows during this bull cycle, and that is not surprising. Interest in bitcoin will increase this year because it has emerged as an alternative asset class for investors to be able to put their money (in crypto currencies) if traditional markets are in chaos.</p><p>More money flows to bitcoin because hedge funds and institutional investors accumulate in crypto currencies, which creates new demand so that prices will be higher. This is why it is not surprising that the estimated Rager price of US $ 60,000 will actually come true. The current rally is supported by fundamental and technical factors, and there is enough evidence to show that the large price targets shared by bulls are more than wild fantasies.</p>","appDepth":2,"appParentPermlink":"pkkttg6cp","appParentAuthor":"rachman-jr25","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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