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bitcoin price could see its second bitcoin-price-roadmap-1000000/amp/” target=”_blank” rel=”nofollow”>massive breakout in this current market cycle, as one crypto analyst has done bitcoin-price-past-halving-cycles/amp/” target=”_blank” rel=”nofollow”>predicted a peak above $150,000 for the pioneer cryptocurrency. This bullish forecast comes on the heels of bitcoin's previous all-time high (ATH) this month when crypto-shorts-bitcoin-new-all-time-high/amp/” target=”_blank” rel=”nofollow”>surpassed the $75,000 mark.
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bitcoin's maximum price is above $150,000
In 2024 alone, bitcoin hit three major all-time highs, marking a historic move for the cryptocurrency. At the beginning of March, the cryptocurrency crossed the $73,000 levelreaching a new ATH. A few days after the November presidential election in the United States (US), the cryptocurrency exceeded expectations with a massive rally to an ATH above $75,000. Today, bitcoin-retail-volume-makes-comeback-btc-new-high/amp/” target=”_blank” rel=”nofollow”>bitcoin Just Hit a New ATHsurpassing the price level of $77,000.
Each of these ATHs was primarily driven by different market factors, with March's high price being driven by the launch and rising demand for bitcoin-etfs-demand-btc-below-70000/amp/” target=”_blank” rel=”nofollow”>bitcoin Spot ETF and November ATHs triggered by market sentiment after crypto-markets-explode-overnight/amp/” target=”_blank” rel=”nofollow”>Donald Trump's re-election as the 47th president of the United States.
Considering these important market movements, a crypto analyst, identified as crypto Titan on x (formerly twitter), hasx.com/washigorira/status/1854856498351874436?s=46″ target=”_blank” rel=”nofollow”> released bitcoin's second most critical breakout in this market cycle. Sharing a detailed chart of bitcoin price movements From 2013 to the present, the analyst highlighted a projected path for btc to reach a market peak above $160,000.
The analyst predicted that the price of bitcoin it could rise to between $160,000 and $230,000 by 2025. Titan of crypto based this bullish bitcoin market peak prediction on the cryptocurrency's historical price action.
According to the chart, the analyst showed that bitcoin reached a “second breakout” between 2016 and 2018, causing a price surge of $12,679. Similarly, in the following market cycle, bitcoin achieved another second breakout between 2019 and 2021, causing a price increase to $50,509.
With the same breakout pattern in this current market cycle, Titan of crypto has established bitcoin's Next Bullish Target and the price reaches a maximum of over $160,000. This considerable increase represents a 109% increase from its current price of $76,559 and a 107% increase from its current ATH.
Analyst Says bitcoin Price Will Hit $100,000 in December
Cryptoanalyst Trader Tardigrade has alsox.com/tatrader_alan/status/1854462523686449641?s=46″ target=”_blank” rel=”nofollow”> revealed a bullish forecast for the price of bitcoin at x. Presenting a chart comparing bitcoin price action in 2023 and 2024; The analyst noted that btc is on track to achieve a significant rise as it reflects the bullish movements seen in the previous year.
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Based on past trends, Trader Tardigrade has predicted that bitcoin will reach $100,000 in early December 2024. In his price chart, the analyst has highlighted a possible price rise above $180,000 for bitcoin by 2025.
Featured Image by Forbes, Chart by TradingView
