Technical analyst JC Parets believes that the price of bitcoin could see a significant surge of 40% to reach $100,000. According to Parets, the longer bitcoin maintains its trading above $70,000, the higher the likelihood of a breakout occurring.
“I think if it’s got a 70 handle, if you’re above 70, I think you own it for a trade and then some,” Parets stated.
This prediction comes as Parets analyzes the technical indicators and trends in the cryptocurrency market. Investors and traders are keeping a close eye on bitcoin’s price movements, with many anticipating a potential increase in value.
In addition to Parets’ analysis, there are also signs pointing towards a positive outlook for bitcoin. As the cryptocurrency continues to gain traction and mainstream acceptance, more investors are turning to digital assets as a viable investment option.
Overall, the future looks promising for bitcoin, with experts like JC Parets forecasting a potential price surge in the near future. Investors are advised to stay informed and monitor market trends closely to capitalize on potential opportunities in the cryptocurrency space.