crypto analyst cryptocon has highlighted one thing Technical Indicators who has always predicted every day with accuracy Local High for Bitcoin in this bull run. Once again, this indicator has revealed the next local high for Bitcoin and when it will happen.
When will Bitcoin reach the local high of $109,000?
Cryptocoin was predicted in X (formerly Twitter) Post That Bitcoin Fibonacci Extension The leading crypto is set to push above $100,000 as it surges to $109,236, a move the analyst said could happen by the end of the year. He suggested that Bitcoin hitting $109,000 by December 2024 would only be possible if the “1 month back 2023” trend continues.
Related reading
The analyst’s charts showed that Bitcoin had set a new record. Local top This year, a month before each local top in 2023. The last local top for Bitcoin in 2023 rolled over into 2024 and occurred in January 2024. Depending on the trend, the next local top could occur in December instead of rolling over into the new year.
The potential growth of Bitcoin is to $100,000 and even $109,000. Several other analystsAs Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, predicts, this will happen at some point. Interestingly, Kendrick it was said Bitcoin will reach $100,000 before the US elections in November and $150,000 by the end of the year if Trump wins the presidential election.
Meanwhile, based on the most recent analysis from Cryptocoin, a rise to $109,000 is unlikely to be the market top for Bitcoin, as the leading crypto still has a long way to go this bull race. analyst it was said He believes Bitcoin still has more than a year of bull market left, based on the 3-week Fibonacci channel RSI. This coincides with crypto analyst Rekt Capital Prediction The market peak will not come before September or October 2025.
BTC could reach $250,000 in this bull run
Crypto analyst Michaël van de Poppe He forecasts the possibility of Bitcoin reaching $250,000 in this market cycle. it was said Bitcoin’s monthly candle closing at around $60,000 could be a consolidation before a “big bull breakout,” which would potentially be the start of Bitcoin’s “big run” to $250,000.
Related reading
The $250,000 price target is still below that of CryptoQuant CEO Ki Young Ju Prediction Bitcoin could attain a market peak of $265,000 this market cycle. He made this prediction on the basis of Hashrate/Market Cap RatioWhich he claimed makes Bitcoin’s market capitalization three times larger than at the previous cyclical top.
At the time of writing this article, Bitcoin is trading at around $58,600, down more than 3% in the last 24 hours. data From CoinMarketCap.
Featured image created by Dall.E, chart taken from Tradingview.com
