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According to the CEO of BitMEX, an impressive surge in the price of Bitcoin is looming. In his prediction, the price of Bitcoin has a high chance of breaking the current all-time high in 2024. While the market might not go beyond the $70000 price level this year, the presence of many investors is expected.
This prediction was deduced as a result of the continuous movement of exchanges from one country to another. And according to Arthur Hayes, the chief executive officer of BitMEX, this could foster an increase in awareness of Bitcoin and lead to its appreciation in the long run.
Key Bitcoin Levels to Watch – May 28
BTCUSD began its uptrend after the breakout of the consolidation phase in December 2023. The price broke upward as the Bollinger Bands expanded to the upside. Following the rally into the overbought region, BTCUSD remains below the $31050.00 resistance.
According to the RSI (Relative Strength Index) indicator, the market is below the 50.0 level. Should the price sink downward to grab the SSL (Sellside Liquidity) below the $25810.00 low, a massive bullish trend might ensue.
BTC Key Levels
Resistance Levels: $31050.00, $37400.00, $48240.00
Support Levels: $25290.00, $19570.00, $15460.00
Total Market Capitalization: $1.12T
Bitcoin Market Capitalization: $521.20B
Bitcoin Volume: $8.40B
Market Rank: #1
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