Bitcoin is expected to break $14,000 soon, and may hit a record high within three months

According to Bitpush data, Bitcoin, the cryptocurrency with the largest market value, continued to rise on Tuesday and reached $13,400 at one point. Industry insiders believe that it is just a matter of time before the price of Bitcoin breaks through the high of around $14,000 in June last year.

Market research firm Nautilus Research said that Bitcoin's current price trend is similar to the sharp rises in 2012 and 2017, which means a new bull market may be coming. Nautilus Research said on Twitter that Bitcoin's price will go higher and may exceed $100,000.

Crypto analysis agency Weiss Crypto Ratings also released a report saying that Bitcoin price breaking through the $13,000 mark is a bullish signal.

Investors flocked to buy Bitcoin this week, and the rally also spread to other crypto assets, the report wrote. At the same time, investors mainly insisted on holding high-quality tokens as major cryptocurrencies performed the strongest. Bitcoin is the "preferred asset" for traditional investors seeking to diversify their portfolios.

According to an earlier report by BitPush, Singapore's largest bank, DBS Bank, plans to create a cryptocurrency exchange. This was a major positive news for the rise in crypto market prices on Tuesday. Although the news has not been fully confirmed, the market responded quickly.

Raoul Pal, CEO of Real Vision, said the bull trend has been strengthened and the likelihood of further market gains is greater than ever.

He wrote on Twitter, "On the Bitcoin chart, there are really only two resistance levels left: 14k and the all-time high of 20k. I expect Bitcoin to hit a new all-time high by early next year at the latest."

Crypto analyst Bitcoin Jack predicts that after falling to $10,000 and successfully rebounding, the price of Bitcoin will break through $14,000, with a target price of $16,000.

Image source: pixabay

AuthorLiang Che

This article comes from Bitpush.News. Reprinting must indicate the source.