Bitcoin’s price has been doing a bit of a rollercoaster ride lately. It briefly dipped below $100,000 in the last 24 hours before bouncing back up. The price fluctuated between roughly $99,000 and $105,000, showing some potential for minor corrections.
A Bull Market Continues
But don’t panic! Crypto analyst CryptoCon believes this is just a small bump in a much larger upward trend. They’ve accurately predicted Bitcoin’s movements before, using Fibonacci extensions. Back in August, they correctly predicted Bitcoin would hit $109,236 by December, when it was around $60,000.
The $100,000 mark has acted as a bit of a psychological barrier, with several tests and retests. Despite this, the overall sentiment is still very bullish, and CryptoCon sees the recent correction as insignificant.
The Next Big Target: $166,000
CryptoCon’s next prediction? A whopping $162,000 by February 2025, based on the 5.618 Fibonacci extension. That’s a roughly 60% jump from the current price. But even that’s not the end of the story.
Even Higher Potential
Their analysis suggests a longer-term upward trend, with potential for even higher gains. They see a pattern of 52% gains followed by resistance at Fibonacci levels. A more extreme prediction, based on the 6.618 Fibonacci extension, points to a possible price of around $254,100!
For now, the overall outlook is positive. CryptoCon expects continued growth above $100,000, with occasional, but ultimately unimportant, corrections along the way.
