Bitcoin is heating up. How far will the next explosion take it?
Through on-chain analysis and the study of historical patterns, one can anticipate what the next target for bitcoin might be.
Strength in the Bitcoin market persists firmly. Phases of price discovery are usually followed by brief mass sell-offs.
Bitcoin (BTC) remains strong and is aiming for new highs. After its last record close to USD 112,000 per coin, it can be anticipated that the digital asset will continue to climb due to various factors.
So far, BTC closely follows the ATH formation pattern, as the price has retraced to USD 107,000. However, the macro uptrend has not been lost, as shown in this chart from on-chain analysis firm Glassnode:
