Yesterday, Bitcoin had a massive day, reaching $73,544. We’re now closer than ever to a potential new record, with the all-time high from March within reach. Over the past week alone, Bitcoin has climbed by about 8% – and the momentum doesn’t seem to be fading. Some analysts are already setting specific targets for December, hinting at an even bigger rally ahead.
Breaking Out of the Unexpected Pattern
One interesting observation came from crypto analyst Captain Faibik on X. He pointed out that Bitcoin has broken free from a pattern it’s been “trapped” in for the last eight months. This pattern, known as a “Descending Broadening Wedge,” looks like a widening funnel. Bitcoin finally pushed through this funnel, clearing a path for more growth.
And what a breakout it’s been! Since October 26, Bitcoin’s price has shot up by over 8.62%. Just yesterday, the price took a leap of nearly 4%, moving from around $70,000 to over $72,700. This price action signals strong confidence in the market, with investors seeing plenty of room for Bitcoin to keep moving up.
Captain Faibik’s outlook is hopeful: he predicts Bitcoin could reach between $88,000 and $90,000, possibly by the end of next month or early December. And given the way the market looks now, even the symbolic $100,000 mark seems like a realistic target.
A New Record Within Reach
So, what can we expect in the coming weeks? If this momentum holds, Bitcoin could be headed toward uncharted territory, bringing new opportunities for traders and investors alike. With the current price at $72,363.53, Bitcoin is only 0.87% below its all-time high. Since October 11, the price has already risen by nearly 20% – a performance that only strengthens investors’ confidence.
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