Bitcoin’s price has risen beyond $63,000! Here’s What the Future Holds for the Bitcoin Price!

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The general market has been green over the past 24 hours, with Bitcoin up more than 5%. Meanwhile, Ethereum is up 3.17 percent, with Solana (SOL) leading the charge with an over 10% increase.

Bitcoin has fluctuated significantly during the last 24 hours, moving between $59,643.35 and $63,343.31. The overall market value is about $1.12 trillion, and trading volume has increased by 22% to $30.7 billion.

Yesterday, Bitcoin’s price movement challenged the $60,000 support level once more, but no more losses were likely. Overnight, BTC/USD resumed tremendous momentum, rising beyond $62,000.

On today’s 4-hour chart, bullish momentum has resumed as the $60,000 support level has fought off any decline.

At the time of writing, Bitcoin has increased to $63,769. The token had risen to $64,013, its highest level in 24 hours. It’s currently up 5%, and it’s likely to gain much more given current market conditions.

Is it 2017 all over again?

Many observers are becoming increasingly hopeful that 2018 will follow the same path as 2017.

Indeed, a recent tweet from crypto expert TechDev reveals how similar the price chart for 2021 is to that of 2017.

The relative strength index is trending in the same direction as last year. Each cycle has two peaks in 2013 and 2017, so we should see another rally soon if everything goes according to plan.

According to TechDev’s audacious projection, a $200,000 BTC price is “baked in.” Similarly, Mignolet, a Korean trader, is enthusiastic, noting in early October that the change in activity from spot to futures markets is a positive market indication.

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