Swissblock: Bitcoin's V-Shaped Recovery Opens Way for $76,000 Target Price

According to crypto analytics firm Swissblock, Bitcoin retreated after quickly surpassing $69,000, but quickly recovered to $67,000 a day later, possibly signaling another all-time high on the horizon. With yesterday's plunge, Bitcoin managed to retest the $59,000 to $62,000 price area, where it recently consolidated for a week before moving to new all-time highs, analysts at Swissblock noted, adding that the analysts said, "a V-shaped recovery and onward to new all-time highs." According to a chart shared by Swissblock, Bitcoin's quick recovery above $62,000 marks the beginning of a new uptrend targeting the $76,000 price level.