Bitcoin’s Ceiling and Floor
Bitcoin is on the move, and analysts are predicting big things. One analyst, Tony Severino, says the current ceiling for Bitcoin is $137,000, with a floor of $39,000. He believes Bitcoin could double from its current price if it reaches this target. However, he also thinks Bitcoin is unlikely to fall below its pre-election level after the US presidential elections, which means the $39,000 floor might be a thing of the past.
The Bull Run Continues
Severino’s target is even higher than $137,000. He believes Bitcoin could hit $160,000 to $180,000 in the next few months. Other analysts are also bullish on Bitcoin. Jelle, a crypto analyst, says Bitcoin has resumed its uptrend after months of sideways action. He believes Bitcoin could soon break out of its current pattern and surge to $100,000.
The Perfect Time to Be Bullish?
CrediBULL, a crypto analyst who was previously bearish on Bitcoin, has changed his tune. He believes the current environment is incredibly bullish for Bitcoin, especially with the US elections over. He thinks the price is unlikely to fall back to $68,000 and suggests now is the perfect time to be bullish on Bitcoin. However, he warns that if Bitcoin falls below $68,700, it could weaken the bullish argument.
The Fed’s Impact
Analyst Justin Bennett also sees a potential rally to $100,000. He believes that if the market can survive the Fed’s latest meeting, it could be the catalyst for the big move everyone has been waiting for.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading at around $74,800, up in the last 24 hours. It remains to be seen if it will reach the $100,000 mark, but with analysts predicting big things, it’s an exciting time to be watching the crypto market.
