A crypto analyst, Crypto Michael, who accurately predicted Bitcoin’s rise from $15,400 to $100,000, is sharing his outlook on what’s next for the king of crypto. He believes there’s still significant upside potential in this market cycle.
Crypto Michael’s Prediction: Breaking $108,000
According to Crypto Michael, once Bitcoin breaks the $108,000 mark, a massive price surge will follow. He’s incredibly confident in this prediction, claiming he’s accurately predicted every Bitcoin move since its $15,000 low. His initial target was the $108,000 trendline, which has now been reached. However, he doesn’t believe the rally is over and expects a parabolic move beyond this point. While he’s bullish, he hasn’t specified a precise price target beyond $108,000. He also predicts that the next upward movement will begin soon, potentially breaking through the $108,000 resistance.
Supporting Evidence and Other Analyst Opinions
Other analysts are backing up this bullish sentiment. Ali Martinez points to a recent influx of $6 billion into the crypto market over the past week as a sign of renewed momentum. He suggests that reclaiming the $100,000 level would be the first step towards even higher prices.
Titan of Crypto suggests that $116,000 could be the next significant price target for Bitcoin, based on the formation of a symmetrical triangle on the price chart. This analyst previously predicted a potential peak of $180,000 for this market cycle.
Crypto Jelle also agrees, suggesting a potential rally to $116,000. He notes that Bitcoin has broken and retested a local downtrend, making a return to $100,000, and then a subsequent push to $108,000 and beyond to $116,000, quite possible.
Current Market Conditions
At the time of writing, Bitcoin is trading around $98,300, showing a slight increase of over 1% in the last 24 hours. The stage seems set for a potential breakout.
