Bitcoin Bulls Aim High – $25K By May!

• Bitcoin price has successfully surpassed the $24,000 area.
• Analysts suggest that if the bull run continues, Bitcoin’s price could reach $25,000 by May.
• Institutional buying and whale accumulation are cited as key drivers of the current Bitcoin rally.

Bitcoin Surpasses $24K Mark

The world’s largest cryptocurrency, Bitcoin price has successfully surpassed not just its key level of $23,000 but also $24,000 area. Just two days before after the release of the January CPI report the flagship currency had dropped towards $21,000 level. However, within the last 24hrs the crypto market has taken a U-turn towards a bullish sentiment. At the time of publication, Bitcoin is selling at $24,581 with a surge of 10.45% over the past day. If the bull rally continues, Bitcoin’s immediate resistance lies at $24,800 while the support is at $24,200.

Reasons Behind The Surge

Santiment claims that Bitcoin has hit a six-month high which gave rise to slight accumulation spotted from 100 to 1,000 BTC holders. On-chain analytics firm Lookonchain suggests that one of major reasons for this surge is institutional buying as it added nearly $1.6 billion into crypto markets since Feb 10th.

Is A Price Of 25K By May Attainable?

An analyst named Carl From The Moon predicts that if bull rally continues then bitcoin price could reach up to 25K by May making it not just attainable but highly likely as well given current market trend and investor sentiment in Crypto space right now.

Risk Management & Technical Analysis

It is important to remember that any investment carries risk and investing in cryptocurrencies even more so due to their volatility and lack of regulations existing currently in most countries around world . Therefore it is highly recommended for investors to do their own research before investing or consult financial advisors or experts who have expertise in technical analysis or risk management in cryptocurrency markets like Elena R who has 10+year experience in writing about cryptocurrency markets for better understanding of risks involved investing in them .

Conclusion

With strong market sentiment predicting rise in bitcoin prices ,it seems like there is no stopping it anytime soon and investors should be aware both potential gains they can make as well as potential losses they can incur while investing specially when volatility keeps on increasing like what we are seeing now with cryptocurrencies .