🚨Crypto Analyst Predicts Bitcoin Price Surge to $80,000 in Uptuber🚨
According to cryptocurrency analyst Stockmoney Lizards, Bitcoin is poised for a tumultuous October, with predictions of a rise to $80,000 within the next two weeks based on technical analysis.
Currently, Bitcoin is trading just above $65,000, having increased by 2.7% in the last 24 hours. This rise is attributed to positive news regarding payouts of BTC from the bankrupt Japanese exchange Mt. Gox, which has long been expected to release billions in Bitcoin to affected customers.
There are concerns that these payouts could lead to massive sell-offs and significant price drops. However, since the payout has been postponed, pressure on Bitcoin’s price has eased, encouraging investors to buy more BTC.
**Potential 23% Bitcoin Rally**
This favorable news could trigger a further rally, making the $65,000 mark crucial. If Bitcoin can hold above this level, it may signal more growth ahead. Stockmoney Lizards indicates that breaking through this level could lead to an explosive rise to $80,000 in the coming weeks, representing a 23% increase and potentially a new all-time high.
The recent price surge is also fueled by the liquidation of short positions. Data from Glassnode reveals that around $2.5 billion in short positions were liquidated between $58,900 and $63,400. This has pushed prices higher, forcing more short sellers to close their positions, further driving the price up.
