Crypto analysts agree that Bitcoin (BTC) could reach new all-time highs if it surpasses a critical resistance level. An anonymous trader, Inmortal, shared insights with his 216,300 followers on X, stating that he expects a significant increase in Bitcoin’s value if it crosses the $64,000 mark.

Inmortal’s Prediction

Inmortal expresses that Bitcoin’s recent decline has formed a local bottom. He noted that the drop from approximately $66,000 to $60,000 between September 29 and October 2 signals positive trends from a technical analysis perspective. Inmortal argues that Bitcoin will break its all-time record if it exceeds the $64,000 price point.

Kaleo’s Perspective

Market Status

As of the writing, Bitcoin is trading at $61,948, having seen a 2.1% increase in the last 24 hours. The market’s volatility supports the diverse predictions made by analysts.

Investment Strategies

Inmortal focuses on two points for long-term investment in BTC: when it shows a swing failure pattern (SFP) around the $60,000 level or when it is accepted above $63,000. Kaleo advises investors to accumulate BTC during potential downturns, believing that these holdings will appreciate in value regardless of market fluctuations.

Current Situation

These varying predictions in the Bitcoin market urge investors to remain cautious and closely monitor market trends. Analysts’ forecasts indicate that Bitcoin can exhibit significant volatility based on technical analysis and market dynamics. It is crucial for investors to conduct their own research and implement effective risk management strategies.