Bitcoin Target Of $42K 'More Conceivable' Now, Says Analyst Who Predicted May 2021 Crypto Crash
A pseudonymous crypto analyst who called May 2021 crypto crash said that $42,000 for Bitcoin (CRYPTO: BTC) “is more conceivable” as the apex crypto moves past $24,000.
What Happened: ‘Dave the wave’ on Wednesday reiterated his price target of $42,000 for 2023, which will take BTC “out of buy zone.”
With price now at 24K, a technical target of 42K this year is even more conceivable... https://t.co/Iekw4aBhv4
— dave the wave (@davthewave) February 16, 2023
The fear and greed index now points to 62, a level that indicates ‘Greed’ in Bitcoin. A value of 0 means "Extreme Fear" while a value of 100 represents "Extreme Greed".
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
Data from Coinglass shows that Bitcoin shorts have been wrecked, with $12.6 million shorts liquidated in the last 24 hours.
In the past 24 hours, 52,519 traders liquidated their positions, taking the total to $205.01 million. The largest single liquidation order happened on Bybit, for $2.54 million.
Price Action: BTC was trading at $24,671, up 12% in the last 24 hours, according to Benzinga Pro.
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