Summary
TLDR: Bitcoin hits new all-time high of $70,330, with potential to reach $71,500. Experts predict Bitcoin could reach $150,000 in the next 12-18 months. Current bullish price action highlights Bitcoin’s dominance and potential as a lucrative investment.
Key Points
1. Bitcoin reached a new all-time high of $70,330, signaling a 5% increase from its opening price of $66,870 and sparking speculation in the cryptocurrency market about its future.
2. The surge in Bitcoin’s price was attributed to breaking out of an ascending triangle on its 10-minute chart, indicating bullish momentum and potential for further growth with a projected target of $71,500.
3. Experts, including Fundstrat’s Tom Lee, are optimistic about Bitcoin’s potential, with Lee forecasting a new all-time high of $150,000 in the next 12-18 months due to strong demand and limited supply.