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The price of Bitcoin is breaking slowly $70,000 markindicating steady upward momentum despite downward pressure from bearish activity US stock market. Noting the recent price movements of Bitcoin, a crypto analyst has suggested that the first cryptocurrency may be preparing strong bull wave which could drive its price up more than 70%, pushing it past the $100,000 milestone.
Here’s Analyst Bitcoin’s Next Project Price
Famous crypto analyst, Javon Marks it was revealed on X (formerly Twitter) on Thursday that the recent price movements of Bitcoin were showing i upcoming bull rally. The analyst noted that the current Bitcoin market conditions are similar to past patterns and trends.
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Marks presented a detailed chart showing Bitcoin price action from 2023 until now. The analyst noted that the price of Bitcoin is built a Hidden Bull Breakout Pattern in 2023, from February to November. Similarly, the cryptocurrency is currently developing another Hidden Bullish Divergence pattern, which started at the beginning of the year and seems to extend towards the end of the year.
Based on these relative price movements, Marks suggests that Bitcoin is poised for a significant rally higher soon. The commentator points out that Bitcoin’s next target currently 70% above its current price, it has the potential to rise to $116,652 as it faces the most explosive bull wave ever seen.
From Mark’s X post, it can be seen that the analyst has been predicting a price of $116,600 for Bitcoin. His first Bitcoin prediction of this high was on September 12, when he said that the rise of Bitcoin over $116,600 was still 100% away.
Mark’s unwavering confidence in this price target suggests strong confidence in that Bitcoin is poised to reach a new ATH in this cycle. Currently, the price of Bitcoin is trading at $67,601, which marks an increase of 1.31% in the last 24 hours and an increase of 5.86% in the last month, according to CoinMarketCap.
Bitcoin Price May Break Even Beyond $116,000
Another well-known crypto analyst, identified as ‘Yoddha’ on X has gone introduced Bitcoin price chart highlighting its next bullish price target. With the caption: “When in doubt, back off,” the analyst expressed his confidence that Bitcoin is set to climb higher this season.
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In the price chart, the analyst revealed his next goal for Bitcoin, indicating that the cryptocurrency could see its price rise between $130,000 to $170,000. This price increase is expected to occur around 2025 when the bull market is in full swing.
In contrast, Elja, the market expert at X, went exceeded the rest Target price on Bitcoin, expects the cryptocurrency to rise to a new ATH of around $94,000. However, the analyst believes that this large price surge will begin in October.
The featured image was created with Dall.E, a chart from Tradingview.com
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