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BTC/USD forecast. Bitcoin has updated the historical maximum

Posted on September 2, 2022September 23, 2022 By a2imiw

 

On Tuesday, the bitcoin price updated its historical maximum, reaching $ 68,444.

In its weekly report, Glassnode notes that investor confidence is at its peak amid the continued growth in the price of the main cryptocurrency and the improvement of intra-network indicators.

Bitcoin has overtaken Tesla (NASDAQ:TSLA) and Facebook (NASDAQ:FB) by market capitalization. The capitalization of BTC reached $ 1.27 trillion, which is higher than the capitalization of Tesla, but slightly lower than the capitalization of the global silver market, which is estimated at $ 1.37 trillion.

Apple CEO (NASDAQ:AAPL) Tim Cook stated that he owns Bitcoin and Ethereum cryptocurrencies, which are part of a diversified portfolio, but Apple does not plan to follow Tesla’s example by investing in bitcoin or other tokens.

Cook said he would not use the company’s cash of about $200 billion to invest in cryptocurrencies.

He also does not intend to accept cryptocurrency as a means of payment for Apple products in the near future. Cook said: “I don’t think people are buying Apple shares to indirectly invest in cryptocurrency. If they want to do this, they can directly invest in cryptocurrency in other ways.”

One of the largest cryptocurrency exchanges in the USA, Kraken, presented a “Market overview and forecast for October 2021”. Kraken analysts predict that the price of bitcoin could reach about $96,000 if BTC/USD repeats the dynamics of 2017.

“The current trend of the fourth quarter is closest to the fourth quarter of 2017 with a correlation of 0.88. It should be noted that the fourth quarter of 2017 was the third best fourth quarter for bitcoin in history with a yield of + 220%,” the analysts noted.

According to technical analysis, consolidation above 67,000 will open the way to a historical maximum of 68,444, then 70,000. In case of a return below 65,650, a decline to 63,700 is likely.

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