Bitcoin’s ‘Next Leg Higher Has Started,’ Says Analyst: Reveals $100,000 Target On The Horizon
Jelle, a well-regarded crypto analyst, recently shared via the latest post on X that Bitcoin is on the verge of a significant upward movement, potentially reaching the $100,000 mark much sooner than many have anticipated.
This optimistic prediction comes when Bitcoin has shown considerable resilience, bouncing back from various challenges and solidifying its position as a leading digital asset.
Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend The Bitcoin Path To $100,000 Jelle’s assertion that Bitcoin is gearing up for a significant price rally to $100,000 is supported by recent market movements and the strategic positioning of investors within the ecosystem.
The analyst’s confidence is rooted in observing Bitcoin’s market behavior, including establishing a new higher low and a push toward previous highs.
Such patterns have historically preceded substantial gains for Bitcoin, making the $100,000 target seem increasingly attainable.
The new higher low has locked in, and #Bitcoin is pushing back towards the highs.
The next leg higher has started.
$100,000 is a matter of time, imo.
https://t.co/EA1TvcUlN5 pic.twitter.com/qt55a0Uy7f — Jelle (@CryptoJelleNL) March 26, 2024 This forecast is further bolstered by the market’s reaction to Bitcoin’s recent performance.
Despite some volatility, the cryptocurrency has managed to reclaim and maintain a price point above $69,000.
Mysterious Movements And Market Signals Adding to the intrigue surrounding Bitcoin’s potential surge is a mysterious on-chain activity involving one of the cryptocurrency’s dormant addresses.
This address, the fifth richest Bitcoin wallet, suddenly sprang to life after years of inactivity, moving roughly $6 billion worth of Bitcoin.
The transaction, executed over the weekend, divided the sum into smaller amounts distributed across new wallets.
The 5th richest Bitcoin address just moved over $6 BILLION in BTC to three new addresses.
37X moved almost its ENTIRE BALANCE of 94.5K BTC ($6.05B) in the early hours of Saturday 23rd March, leaving only 1.4 BTC in the address.
The 94.5K BTC had not been moved since 37X…