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Bitcoin Price Suddenly Soars to Nearly $24,000. Is $28,000 Likely?



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Alex Dovbnya

Bitcoin is up another 5.43% over the last 24 hours

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The price of Bitcoin, the world’s largest cryptocurrency, touched an intraday high of $23,684 earlier today on the Bitstamp exchange.

BTC
Image by tradingview.com

The flagship cryptocurrency has now added more than 23% over the past week.

Is $28,000 possible?

Mark Newton, global head of technical strategy at Fundstrat Global Advisors, is now confident that Bitcoin bottomed out at the $17,600 level.   

The momentum appears to be “positively sloped” in the near term. The analyst believes that the $25,320 level would be for regaining bullish sentiment.

In fact, Newton adds that the cryptocurrency could potentially reclaim the $28,000 level “before any backing and filling.”

Bitcoin is still down roughly 66% from its record peak, according to data provided by CoinGecko.
  





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