Despite the recent dips that took Bitcoin down to 51,800$ then back to 54,000$ with the first sign of recovery, BTC is showing a bullish return as the top crypto is recollecting. Bitcoin is trading at 55,783$, heading for 56,000$ as it appears that BTC is heading for recovery with the recent gains. The top crypto is still away from its all-time high, down by -11%. However, many enthusiasts are hoping to see new highs as Bitcoin is showing signs of recovery. Can Bitcoin reach 70,000$ in April, and is this price realistic?
Is 70,000$ a Realistic Price for Bitcoin in 2021?
“Realistic” may be a loose term when it comes to Bitcoin as BTC managed to reach an all-time high of 61k dollars from its first historical breakthrough at 20,000$ in December 2020. It took less than 3 months for Bitcoin to reach the price of over 61,000$ and get close to 62,000$ at one point from the price of 20,000$, which testifies great volatility that may bring both major gains and losses for those unfamiliar with market trends. The price target of 65,000$ was somewhat a natural price target next in line after the latest ATH, so the price target of 70,000$ would become an option for the top traded crypto. With the ending days of March, Bitcoin is showing a bullish pace of growth, which may provide the top crypto with enough momentum to reach 70,000$ in the course of the next 30 days. Of course, this depends on numerous factors, one of them being sentiment and historical market trends. Bitcoin may take longer to respond to the changing trends with the next bull run, however, analysts are expecting to see the top crypto revisiting its all-time high price in April. In case that happens, Bitcoin should get a chance for a new historical price.
Image credits: Cover photo taken from Executium on Medium
