Bitcoin (BTC) remained within reach on November 5, when the latest analysis showed that a break of $64,000 would lead to a new all-time high.
BTC/USD 1 day candlestick chart (bit stamp). Source: TradingView
“Very close, but so far” to the highest price on BTC
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD is not receiving much attention as it swings around $61,000.
After several days of such moves, analysts continued to focus on altcoins as more coins continued to climb to all-time highs.
However, it took surprisingly little for Cointelegraph contributor, Mikael van de Poppe, to make the BTC price move bullish.
In his latest YouTube update for the day, Van de Boep claims that $64,000 will be a staging area for the bulls if BTC/USD is convincingly breached. The level remained resistant throughout the week, withstood several breakout attempts.
He concluded, “We are still hovering between $58,000 and $64,000, and that $64,000 space here is a critical area that we must conquer if we are to reach a new all-time high.”
He added that if such an incident occurs, the next resistance zone will fail until Bitcoin reaches $72,000.
As Cointelegraph reported, November was already expected to be a month of extremes – including a return to the mid-$50,000 region and then a close as high as potentially over $98,000.
But for Van de Poppe, the prospect that $98,000 will be the end of a “worst-of-the-earth” month now seems improbable.
“I think it’s going to be very difficult to get to that level, and I think we can recognize that the cycle can take longer than the four-year halving cycles,” he said.
January 2022 records cycling
Meanwhile, a survey by PlanB, responsible for the smallest monthly closing chain, found that the majority of respondents believe that $288,000 will be reached by early 2022.
On the topic: Support for a bitcoin retest, while a trader anticipates a drop in the bitcoin price to $55K.
Bitcoin price predictions overview. Source: PlanB / Twitter
Although it can be difficult to imagine current prices, it is due to a number of observations that put 2021 in full compliance with the previous bullish years in 2013 and 2017.
Thus, an increase in the magnitude of the peak of this four-year cycle cannot be ruled out, as market participants claim.
“From mid-December to end of January is still my window of opportunity,” TechDev, a popular Twitter account known for its comparisons, tweeted Friday.
“Put your bets on the story as the cycle tells you until it tells you another.”
TechDev previously described a course of up to $300,000 as “programmed.”