TL;DR
Bitcoin’s value fell to $61,500 due to issues at Coinbase but analysts predict a rally above $70,000 soon.
Positive market indicators and exchange trends suggest reduced selling pressure, hinting at a potential price increase for the asset.
Is it Time for a New BTC Rally?
Despite the surge above $63,000 on May 13, Bitcoin’s price retraced to $61,500 today (May 14). One reason that led to the plunge could be Coinbase’s operational issues.
As CryptoPotato reported, the US-based exchange experienced a “system-outage,” during which many users failed to conduct transactions or withdrawals. The company fixed the problem a few hours ago but BTC keeps trading below the $62K mark.
Numerous analysts, though, believe that a rally above $70,000 is on the horizon. The X user Captain Faibik set $78,000 as a midterm target, adding that he will buy BTC with 25% of his portfolio.
Crypto Rover spotted an “inverse head & shoulders pattern” on Bitcoin’s price chart, e
We współpracy z: https://cryptopotato.com/heres-why-bitcoin-btc-may-cross-70k-soon-analysts/
