Bitcoin Price Suddenly Soars to Nearly $24,000. Is $28,000 Likely?


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Alex Dovbnya

Bitcoin is up another 5.43% over the last 24 hours

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The price of Bitcoin, the world’s largest cryptocurrency, touched an intraday high of $23,684 earlier today on the Bitstamp exchange.

BTC
Image by tradingview.com

The flagship cryptocurrency has now added more than 23% over the past week.

Is $28,000 possible?

Mark Newton, global head of technical strategy at Fundstrat Global Advisors, is now confident that Bitcoin bottomed out at the $17,600 level.   

The momentum appears to be “positively sloped” in the near term. The analyst believes that the $25,320 level would be for regaining bullish sentiment.

In fact, Newton adds that the cryptocurrency could potentially reclaim the $28,000 level “before any backing and filling.”

Bitcoin is still down roughly 66% from its record peak, according to data provided by CoinGecko.
  

Source: https://u.today/bitcoin-price-suddenly-soars-to-nearly-24000-is-28000-likely