Bitcoin Poised For Explosive Growth To $190,000 After Crossing $30,000 Threshold, Analyst Says

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After the price of flagship cryptocurrency Bitcoin ($BTC) breached the $30,000 mark earlier this month, some cryptocurrency analysts began pricing in further upside, with one analyst pointing to a Historical chart pattern suggesting that BTC is set to surge in the near future.

Bitcoin, according to pseudonymous crypto analyst BitQuant, has completed its last pullback before heading to the moon and skyrocketing towards $190,000, with the new low before hitting an all-time high (ATH) expected to hover around from $29,000 to $30,000.

Friends, I have an update for you. According to this projection, #Bitcoin has completed its last pullback before heading to the Moon. Unlike the other pattern, this one does not expect a retest of the 10-week EMA before entering an up-only phase. If this is correct then the new https://t.co/9m21XZmRga pic.twitter.com/CZe9Ll5QzE

BitQuant (@paraboloic) April 13, 2023

Earlier, as reported by Finbold, the cryptocurrency market analyst offered a slightly different perspective, saying Bitcoin price typically takes two retests after breaking the 10-week exponential moving average (EMA ). BitQuant also pointed out in the same tweet that in this particular cycle, we are still waiting for the last test before the price skyrockets to $190,000.

According to recent analyst prediction, Bitcoin would face no further hurdles on its ascent to $190,000, a milestone which the analyst predicts will be reached in 2024. At the time of writing, Bitcoin is trading at 30,700 $ after increasing about 2% over the 24 – hour period.

Some analysts are notably more optimistic. As CryptoGlobe reported, Larry Lepard, managing partner at Boston-based investment management firm Equity Management Associates, predicted that the end of the dollar era could be the start of the golden age of Bitcoin. .

His prediction foresees the collapse of the US dollar over the next decade, and BTC would receive a large price increase from it. Lepard mentioned that as people become more aware of dollar depreciation, they will turn to assets like Bitcoin, gold, and real estate. He pointed to a key advantage Bitcoin has over gold, its limited supply of 21 million coins.

According to Lepard, this scarcity will be at the heart of Bitcoin’s long-term price increase. Expounding on this point, Lepard said: If Bitcoin reaches $100,000 tomorrow, no additional Bitcoin will be created. As more people embrace Bitcoin as a way to preserve their wealth, Lepard envisions the price of cryptocurrencies to continue its ascent, potentially reaching milestones of $100,000, followed by $1 million and eventually $10 million. dollars per piece.

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