The price of the world's most popular cryptocurrency, Bitcoin, has reached a significant milestone by reaching USD 31,000, its highest level in the last 10 months. This increase in its value has generated great interest in the financial community, and various analysts have shared their views on the possible future of the digital currency.
Analysts have been expecting a possible drop below USD 30,000, but the market's continued strength and the break of the long-term downtrend has generated conviction among market participants. Although Bitcoin is expected to have some shallow corrections in an uptrend, popular trader Crypto Tony advises potential buyers to wait for confirmation of new support levels.
Michaël van de Poppe, has expressed that, although Bitcoin looks strong at the moment, it is likely to have some shallow corrections as it continues in an uptrend. According to him, the USD 31,700-32,000 range will be an important resistance that the cryptocurrency will have to overcome in the short term.
Meanwhile, altcoins led by Ether have been gaining ground and have generated widespread excitement in the cryptocurrency market. Ether has reached its highest level since May 2022, reaching USD 2,130 after the implementation of its "Shapella" upgrade.