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Bitcoin Analyst Foresees Potential Rise to $144K Amid Global Tensions
Bitcoin's recent slight increase followed a US military strike in Iran, aimed at easing Middle East tensions, but the overall trend remains cautious. The cryptocurrency faces resistance around $110,000 and is currently in a corrective phase, influenced by global uncertainties and technical stagnation. An analyst leveraging the Mayer Multiple indicator suggests bullish potential, with possible target prices at $96,000 and $144,000. Historically, Bitcoin has only peaked after reaching a 2.5x multiplier, indicating room for growth beyond current levels. Despite recent decline to approximately $102,700, market sentiment is neutral, yet forecasts predict a potential surge to around $136,472 in the near term, possibly nearing the market cycle's top.
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AI Analysis
The recent geopolitical events, notably the US airstrike, have triggered short-term volatility in Bitcoin as geopolitical risk often influences investor sentiment in the cryptocurrency market. Despite...
AI Recommendation
Given the analysis, it is advisable to adopt a wait-and-see approach. Investors should monitor key support levels around the current price and the $96,000 mark to identify potential entry points. Whil...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.