After a rocky start, Bitcoin has rebounded and is now hovering around $66,000. Crypto analysts are predicting a bright future for the coin, with some suggesting it could hit $100,000 soon.
Rally to $100,000
Captain Faibik, a crypto analyst, believes Bitcoin has found support at $60,000 and is now on its way back up. He predicts that if bullish investors can push the price above $72,000, it could trigger a rally to $100,000.
Technical Indicators
Faibik points to several technical indicators that support his bullish outlook. The weekly candle closed above the 10-day Exponential Moving Average (EMA), indicating that bulls are in control. Additionally, the daily Relative Strength Index (RSI) has broken out of a falling wedge pattern, suggesting a 15-20% rally is coming.
All-Time High in May
Faibik also notes a bullish flag formation on the daily timeframe. If Bitcoin breaks out of this pattern, he predicts it could reach a new all-time high by May.
$1.5 Million by 2030?
Ark Invest CEO Cathie Wood has made an even bolder prediction, suggesting Bitcoin could reach $1.5 million by 2030. Her analysis is based on surveys of institutions and evaluations of market volatility.
Wood initially estimated Bitcoin could hit $600,000 in six years, but she now believes the Bitcoin Spot Exchange-Traded Funds (ETFs) could push it even higher.
