Cryptocurrency markets are trading higher on Wednesday, bolstered by Federal Reserve Chair Jerome Powell calling it “digital gold.”
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Trader Notes: With Bitcoin prices trading higher, crypto trader Rekt Capital emphasizes the importance of the crypto king closing above $97,000 to confirm a breakout and revisit $100,000.
Crypto trader Javon Marks notes Bitcoin following a near-textbook bullish pattern, targeting a 20.1% gain with a price goal of $116,652.
Crypto Wizardd predicts a potential "giga liquidation event," with a sell-off pushing prices to $65,000 before recovering to a range of $115,000–$120,000. He views $120,000 as Bitcoin’s peak, with possible consolidation between $90,000–$110,000.
The trader forecasts the bull cycle could end by April/May 2025, with an altcoin season likely starting in Q1 2025.
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