The price of Bitcoin may witness a significant second breakout in the current market cycle, as a cryptocurrency analyst has predicted a peak above $150,000 for this pioneering cryptocurrency. This bullish forecast comes right after Bitcoin's previous All-Time High (ATH) earlier this month when it surpassed the $75,000 mark.
Bitcoin's price peaks above $150,000.
In just 2024, Bitcoin has reached three all-time highs, marking a historic breakthrough for the cryptocurrency. In early March, the cryptocurrency surpassed $73,000, achieving a new ATH. A few days after the U.S. presidential election in November, the cryptocurrency exceeded expectations with a strong price surge to an ATH above $75,000. Today, Bitcoin has just reached a new ATH, surpassing the $77,000 mark.
Each of these ATHs is primarily driven by various market factors, with the highest price in March driven by the launch and soaring demand for Bitcoin spot ETFs, while the ATH in November was triggered by market sentiment following Donald Trump's re-election as the 47th President of the United States.
Considering these major market moves, a cryptocurrency analyst, identified as Titan of Crypto on X (formerly Twitter), has announced Bitcoin's crucial second breakout in this market cycle. Sharing a detailed chart of Bitcoin's price fluctuations from 2013 to present, this analyst has highlighted an anticipated path for BTC to reach a market peak above $160,000.
The analyst predicts that Bitcoin's price could soar from $160,000 to $230,000 by 2025. Titan of Crypto has made an optimistic prediction about Bitcoin's market peak based on the historical price movements of this cryptocurrency.
Based on the chart, the analyst shows that Bitcoin reached its "second breakout" during the period from 2016 to 2018, leading to a price surge of $12,679. Similarly, in the next market cycle, Bitcoin achieved another second breakout from 2019 to 2021, triggering a price increase to $50,509.
With the same breakout pattern in the current market cycle, Titan of Crypto has set the next bullish target for Bitcoin and a peak price above $160,000. This significant increase represents a 109% gain from the current price of $76,559 and a 107% rise from the current ATH.
The analyst states that the price of Bitcoin will reach $100,000 by December.
Cryptocurrency analyst Trader Tardigrade has also revealed a bullish forecast for Bitcoin's price on X. Presenting a comparative chart of Bitcoin's price movements in 2023 and 2024, the analyst points out that BTC is on a significant upward trend as it reflects the bullish moves seen in the previous year.
Based on past trends, Trader Tardigrade has predicted that Bitcoin will hit $100,000 by early December 2024. In their price chart, the analyst emphasized that the price of Bitcoin could rise above $180,000 by 2025.
