As bitcoin continues to trend below its recent all-time high of $73,000, the next trajectory of the asset has been a topic of interest within the cryptocurrency space. Well-known analyst and cryptocurrency enthusiast Javon Marks has made a bold x.com/JavonTM1/status/1800161118649720860″ target=”_blank” rel=”noopener nofollow”>prediction That has caught the attention of the crypto community, predicting that the value of the digital asset will soon cross the six-figure territory and surpass the desired price level of $100,000.
bitcoin Value to See Massive Rise to $116,652
Marks bases his bullish projection on a confluence of bullish signs indicating the price of flagship crypto asset is about to have a big rebound in the coming months. Furthermore, Marks points to a favorable market condition, which could significantly boost the price of bitcoin.
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His forecast is in line with the general market sentiment, as other traders and analysts project substantial increases for bitcoin due to its technical and fundamental qualities.
According to the analyst, with the important bullish signs confirmed, bitcoin's 3D price currently remains above a vital threshold of $67,559. Therefore, being above this crucial threshold indicates that the current technical target for btc is the $116,652 mark.
The post said:
bitcoin (btc) 3D price is currently holding above a vital level of $67,559 and being above implies that the current technical target is $116,652 with major bullish indications confirmed.
Javon Marks noted that with this target set, the digital asset can rise an additional 66.33% from its current price to reach the target. Meanwhile, the only thing standing in the way could be time, suggesting a promising future for btc.
In support of this bullish structure, the expert noted that bitcoin has verified another hidden bullish divergence and the previous one produced a value increase of almost +200%. Given that the market could be quietly preparing to show a level of strength never seen before, Marks could see this as a catalyst for btc to reach the aforementioned price target.
btc's 6-figure goal is inevitable
Javon Marks is not the only cryptocurrency analyst who has predicted that the crypto asset will hit a 6-figure target in this current bull cycle. Titan of crypto, a popular market expert, also x.com/Washigorira/status/1800107756294488255″ target=”_blank” rel=”noopener nofollow”>highlighted bitcoin's potential to surpass $100,000 in the coming months.
Taking into account the past trends of the bullish cycle, the expert anticipates btc to reach the coveted $111,000 price level, claiming that the move is inevitable. Although this level seems intriguing, Titan of crypto is confident that the coin could overcome this bullish cycle above this target.
At the time of writing, the price of bitcoin was trading at $67,761, showing a 1% increase in the last 24 hours. Its trading volume has plummeted more than 14%, while its market capitalization increased by 1.05% in the last day.
Featured image from iStock, chart from Tradingview.com
