Jeffrey Tucker
A New Currency for the Digital Age
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Bitcoin alltime above 65k
Crypto market cap copies Ethereum’s all-time high
Renowned crypto analyst PlanB predicts a potential all-time high of $524,000 for Bitcoin (BTC) in the next four years, based on historical halving trends. Bitcoin new alltime 65k The Bitcoin network mining rate fluctuates, but it averaged 448 exa-hashes per second on Oct. 11, 2023—that's 448 followed by 18 zeros. If it takes roughly 10 minutes for a block to be mined, that's about 268 zeta-hashes (268 followed by 21 zeros) to open a new block.
Bitcoin new alltime high 65k
In the daily timeframe, a breakout of the Bollinger Bands Squeeze in the last few days caused a massive rally in the Bitcoin price. As the bands are still diverging amid a rise in volatility, the BTC price will continue to move higher. However, RSI indicates a high possibility of a pullback as it hit almost 90 in the overbought zone. Learn More The price is currently correcting lower below the $61,000 level. On the downside, an initial support is near the $60,000 level. There is also a key bullish trend line forming with support near $58,500 on the 4-hours chart of the BTC/USD pair. Any more losses could open the doors for a move towards the $58,000 and $57,200 support levels.
Stay in the loop
After a little over six months, Bitcoin has reached a new peak. The world’s largest cryptocurrency has managed to break the previous ATH set on April 14, and climbed above the $65K mark for the first time in its history. Bitcoin: Not Alone - Other Cryptocurrency Performance PlanB shared a chart indicating that BTC is trading above the two-year and five-month realized price levels. The realized price metric tracks the sum of all Bitcoins at the price they were last transacted on-chain divided by the number of BTC in circulation.
