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Bitcoin price is slowly crossing the line $70,000 markshowing steady upward momentum despite the downward pressure from the bearish performance of the American stock market. A crypto analyst has taken note of Bitcoin’s recent price movements and suggested that the pioneering cryptocurrency could be preparing for a strong bull wave that could push the price up by more than 70%, pushing it past the $100,000 mark.
Here’s how high Bitcoin’s next analyst project price is
Popular crypto analyst Javon Marks revealed in an X (formerly Twitter) post on Thursday that Bitcoin’s recent price movements were a signal impending bull rally. The analyst noted that Bitcoin’s current market conditions resemble past patterns and trends.
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Marks presented a detailed map with images Bitcoin’s price action from 2023 to present. The analyst noted that the Bitcoin price is a Hidden Bull Divergence Pattern in 2023, from February to November. Similarly, the cryptocurrency is currently developing another Hidden Bullish Divergence pattern, which starts at the beginning of the beginning of the year and looks to extend towards the end of the year.
Based on these parallel price movements, Marks suggests that Bitcoin is poised for a significant rally to new highs soon. The analyst predicts that Bitcoin’s next target is currently 70% above the current price, with the potential to rise to $116,652 as it experiences one of the most explosive bull waves ever.
Mark’s X post shows that the analyst has consistently projected the $116,600 price target for Bitcoin. His earliest Bitcoin prediction of this all-time high was on September 12, when he claimed that Bitcoin’s surge to over $116,600 was still 100% gone.
Mark’s unshakable confidence in this price target indicates a strong belief in it Bitcoin is poised to hit a new ATH this cycle. Currently, Bitcoin’s price is trading at $67,601, which represents an increase of 1.31% in the past 24 hours and an increase of 5.86% in the past month, according to CoinMarketCap.
Bitcoin price may even rise higher than $116,000
Another well-known crypto analyst, identified as ‘Yoddha’ on presented a Bitcoin price chart highlighting the next bullish price target. With a caption that reads: “When in doubt, zoom out,” the analyst expressed confidence that Bitcoin will skyrocket this season.
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In the price chart, the analyst plotted his next target for Bitcoin, indicating that the cryptocurrency’s price could rise between $130,000 and $170,000. This price increase is expected to occur around 2025, when the bull market is in full swing.
Conversely, Elja, a market expert in the field of projected a lake conservative price target for Bitcoin, expecting the cryptocurrency to rise to a new ATH of around $94,000. However, the analyst believes that this massive price breakout will begin in October.
Featured image created with Dall.E, chart from Tradingview.com