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The major resistance level pointed out on Ali’s chart for Bitcoin to reach a new high of $70,320 involves a total volume of 599,260 BTC from 736,380 addresses. According to Ali, surpassing this level could open the door for Bitcoin to continue its bullish momentum. Ali’s chart also highlighted that 64.52% is in the money, while the remaining 35.45% is out of the money. Currently, Bitcoin is trading at $69,709, with a trading volume that has increased by 49.76% to $25.9 billion, in addition to its market capitalization standing at $1.3 trillion.
In a bullish case for Bitcoin, renowned economist Peter Schiff predicted a price of $94,000 to match the price of the dollar. While Schiff's comment was made in jest, the figure has some merit. Bitcoin has recently experienced a that he invested 300 Bitcoin to a crypto firm, obtaining a 4% share in the unidentified business. In 10 years, he claimed to have made 15 BTC from the investment.
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