Bitcoin could end up reaching $300,000 if this bullish formation works out
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This base tends to break to the upside most of the time. If it also ends up being the case this time around, the cryptocurrency could reach the aforementioned price target.SHIB on Brink Of Mysterious Evolution: Shiba Inu Executive In addition, van Lagen claims that Bitcoin is in the process of forming an ascending broadening wedge that tends to break down 80% of the time. If a breakdown does occur, the inverted cup and handle pattern could push Bitcoin into $300,000 territory. It is worth mentioning that the chartist's technical analysis should be taken with a huge grain of salt.
Of course, van Lagen is far from being the only pundit who expects a massive price move in the near future. As , Robert Kiyosaki, the author of"Rich Dad Poor Dad," recently predicted that the Bitcoin price could end up exploding in the near future because of the Fed's widely expected dovish pivot. The odds of an aggressive rate cut recently grew dramatically on PolyMarket. However, the Bitcoin price remains under pressure, plunging by more than 4% over the past 24 hours.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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