Cryptocurrency Analyst CryptoCon It has highlighted a bitcoin-price-analysis-fibonacci-extension-tool/” rel=”nofollow”>technical indicator which has always accurately predicted each bitcoin-trader-calls-all-time-high-spike-local-top/” rel=”nofollow”>local high for bitcoin in this uptrend. Once again, this indicator has revealed the next local top for bitcoin and when it will happen.
When will bitcoin hit a local high of $109,000?
CryptoCon predicted on an x (formerly twitter) x.com/CryptoCon_/status/1821951850121179380″ rel=”nofollow”>mail that the bitcoin-161800-target-fibonacci-elliott-wave-theory/” rel=”nofollow”>bitcoin Fibonacci Extension bitcoin price could surpass $100,000 and reach $109,236, a move the analyst said could happen by the end of the year. He suggested that bitcoin is likely to hit $109,000 by December 2024 only if the “one-month lag in 2023” trend continues.
Related reading
The analyst's chart showed that bitcoin has reached a local summit This year, one month before each local top in 2023. bitcoin's last local top in 2023 extended into 2024 and occurred in January 2024. Based on the trend, the next local top could occur in December instead of extending into the new year.
bitcoin's potential surge to $100,000 and even $109,000 is one that bitcoin-rare-buy-signal-130000/” rel=”nofollow”>several other analystsas Standard Chartered's head of digital asset research Geoffrey Kendrick have predicted would happen at some point. Interestingly, Kendrick bitcoin-pre-us-elections/” rel=”nofollow”>fixed that bitcoin would hit $100,000 before the US elections in November and reach $150,000 by the end of the year if Trump wins the presidential election.
Meanwhile, according to the latest analysis from CryptoCon, a surge to $109,000 is unlikely to be a market top for bitcoin as the flagship cryptocurrency still has a long way to go. bitcoin-bull-market-glassnode/” rel=”nofollow”>This bullfight. The analyst x.com/CryptoCon_/status/1822679529359397335″ rel=”nofollow”>fixed who is convinced that bitcoin still has more than a year of bull market ahead of it according to the 3-week Fibonacci channel RSI. This coincides with the cryptocurrency analyst bitcoin-price-will-recover-again/#:~:text=Rekt%20Capital%20recently%20suggested%20that,September%20or%20October%20next%20year.” rel=”nofollow”>Rekt Capital Prediction that the market peak will not be reached until September or October 2025.
btc could hit $250,000 in this bull run
bitcoin-bottom-20-decline/” rel=”nofollow”>Cryptoanalyst Michael van de Poppe has raised the possibility of bitcoin rising to $250,000 in this market cycle. x.com/CryptoMichNL/status/1822309434732765248″ rel=”nofollow”>fixed that bitcoin's monthly candle close at around $60,000 could be the consolidation before the “big bullish breakout,” which would likely 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 that bitcoin could reach a market high of $265,000 in This market cycleHe made this prediction based on the bitcoin-eyes-new-records-staying-above-45000-might-be-the-catalyst-ceo/” rel=”nofollow”>Hash rate to market cap ratiowhich he says supports a bitcoin market cap three times larger than it recorded during the last cyclical peak.
At the time of writing, bitcoin is trading around $58,600, down more than 3% in the past 24 hours, according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
