Bitcoin is looking strong and many analysts believe it’s about to surge past its all-time high. With a lot of money flowing into the cryptocurrency and its recent price performance, everyone’s expecting a big jump in the coming months.
The $100,000 Goal
The big target for investors is $100,000, which would put Bitcoin into six-figure territory. One analyst, Peter DiCarlo, thinks Bitcoin is ready to make a run for this price, but there’s a hurdle it needs to clear first.
A Key Resistance Level
DiCarlo has been watching Bitcoin’s price chart and noticed some interesting patterns. He believes Bitcoin has been in a “bull flag” formation since March, which is a sign that it’s about to continue its upward climb.
However, Bitcoin needs to break through the $68,000 level to confirm this. If it can do that, it could be on its way to $100,000.
What Happens If It Doesn’t?
If Bitcoin doesn’t break through $68,000, it could fall back down to around $63,000. But if it does break through, it could see a big jump in price.
October’s Potential
If history repeats itself, Bitcoin could see a big jump in October. Last year, it rose by almost 30% in October. If that happens again, it could reach a new all-time high of $85,000 by the end of the month. From there, it could easily climb to $100,000 in November and December.
It’s a big prediction, but with Bitcoin’s current momentum, it’s definitely a possibility.
