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analyst Tony Severino It revealed that the price of Bitcoin is currently at a ceiling of $137,000. This has raised questions about whether this is the highest point major cryptocurrencies could reach in this market cycle, and the analyst also provided some answers.
Bitcoin price ceiling is $137,000
Tony Severino mentioned in Post He noted that investors could double their investments from the current price of Bitcoin if the cryptocurrency reaches this goal. Meanwhile, decrease To the current minimum it represents a 50% reduction.
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When asked if $137,000 was the goal Bull crestThe analyst responded that his target was between $160,000 and $180,000. He noted that the $137,000 is just the ceiling as of this month and is rising over time. As such, his top market target of $180,000 may become more feasible in the next few months.
While it remains to be seen whether Bitcoin price can reach this ceiling of $137,000 or even the higher target of $180,000, it is almost certain that the flagship cryptocurrency may never drop to the $39,000 floor again. This is based on historical trends that show Bitcoin has never fallen below its pre-election level after the election US presidential elections I finished.
Therefore, the next phase of the uptrend has likely begun, and major cryptocurrencies will likely continue to reach new highs in the coming months. in Share XCryptocurrency analyst Jelly revealed that Bitcoin price has resumed its upward trend after seven months of sideways movement. He added that it won’t be long before the falling wedge pattern on Bitcoin’s chart rises to $100,000, a potential target.
The most bullish backdrop for Bitcoin at the moment
Cryptocurrency analyst CrediBULL, who was previously bearish, said this is arguably the most bullish backdrop for Bitcoin, with the election over and… Donald Trump wins. He added that if these are the fundamentals driving the market, Bitcoin is unlikely to drop to $68,000 again.
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He also noted that this could be the perfect time for a rise in the price of Bitcoin Up to $100,000 Maybe it started. However, he warned that any breach of the $68,700 level would weaken the bullish case “significantly” and strengthen the bearish case further.
Analyst Justin Bennett He also commented on the possible rise of the Bitcoin price to $100,000. He said that if risk assets can survive today’s FOMC meeting, this could be the move to $100,000 that everyone has been waiting for.
At the time of writing, Bitcoin is trading at around $74,800, rising over the past 24 hours, according to CoinMarketCap data.
Featured image created with Dall.E, chart from Tradingview.com
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