A crypto analyst, TechDev, is predicting a massive Bitcoin price surge, potentially reaching $139,000! This bold prediction is based on an interesting pattern observed around US presidential elections.
Election Cycles and Bitcoin’s Rise
TechDev noticed a correlation between US presidential elections and Bitcoin’s price performance. Looking back:
- 2012: Bitcoin started at $10 on election day and soared to $245 a year later (a 22.7x increase).
- 2016: Bitcoin was at $710 on election day, reaching $7,200 a year later (a 10.12x increase).
- 2020: Bitcoin sat at $13,588 on election day, eventually hitting $61,300 a year later (a 4.51x increase).
The pattern? Each cycle shows a significant price jump, with the increase roughly matching the previous cycle’s growth, plus an extra 44.5%.
The $139,000 Prediction
Applying this pattern to the recent election, where Bitcoin was around $69,400, TechDev projects a 4.51x increase (like 2020) plus the extra 44.5%, leading to a potential price of around $139,000. This is quite a leap!
A Bullish Market?
This prediction gains extra weight considering the current political climate. For the first time, the US has a president considered pro-crypto, potentially boosting Bitcoin’s appeal. Bitcoin’s price has already reacted positively since the election, showing a strong upward trend.
What’s Next After $100,000?
Another analyst, Ali Martinez, weighs in on what might happen once Bitcoin hits the $100,000 mark. He sees similarities to December 2020’s price action and predicts:
- A short-term spike to $108,000.
- A slight dip to $99,000.
- A continued uptrend towards $135,000.
This aligns remarkably well with TechDev’s $139,000 forecast. At the time of writing, Bitcoin is trading near $97,000, already showing impressive growth.
