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27.09.202112:04 Forex Analysis & Reviews: Bitcoin may skyrocket above $65,000

Long-term review

On Friday, bitcoin's price broke through the level of $45,000 amid Twitter officially added BTC transactions.

Exchange Rates 27.09.2021 analysis

Many cryptocurrency market analysts expect bitcoin may rise to $49,000 during next week. As for the longer-term forecasts, experts agree that in the next few weeks, the leading cryptocurrency is likely to gain momentum for a further strong breakthrough.

At the time of writing, bitcoin is trading just above the $41,000 level.

Exchange Rates 27.09.2021 analysis

BTC surged on Friday after Twitter users were able to accept donations on iOS devices using the Lightning Network. It is highly probable that a similar function will appear in Android apps in the near future.

The Bitcoin-ETF could receive support from US regulators as early as October. The US authorities may take this decision in order to lead in the crypto-industry again.

Notably, some experts even predicted an approximate scenario for bitcoin's price in the short term. According to them, after breaking the resistance at $52,000, BTC will quickly get to its high, which is located at $65,000. After that, a pullback to the $50,000 level is possible followed by a strong rally above $65,000.

Today, traders are becoming more and more enthusiastic about digital assets, which correlates with general market trends. Institutional investors are switching to ethereum in favor of bitcoin.

The cryptocurrency market is clearly rebounding upwards along with the stock market. However, the growth of digital assets here is even more significant in scale. Analysts suggest that during the entire US stimulus program operation, the crypto and stock market may continue to show spectacular growth. However, the outcome of this prolonged euphoria could be quite disappointing.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2021
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