Bitcoin Surpasses $100,000 – Aiming Even Higher
On January 8, Bitcoin experienced a 2.3% surge, reaching a three-week high of $102,760. According to data from Coinbase, BTC’s price has risen 11.8% since its December 30 low of $91,315, raising questions about how far this rally can go.
For the first time since December 19, 2024, Bitcoin is trading above $100,000, inspiring both investors and analysts to set ambitious targets.
Analysts Set Targets as High as $120,000 and Beyond
Bitcoin’s recent recovery has prompted the establishment of new targets. WealthSquad analyst Chris predicts that the current bull trend could propel Bitcoin to $120,000. According to his technical analysis, breaking out of the consolidation phase is critical for further growth.
Some investors, such as Mike Alfred, anticipate long-term targets of $200,000 or higher. Alfred speculates that Bitcoin could reach up to $700,000 during the current cycle, while also expecting minor corrections to the $95,000–$96,000 range before another surge.
Fibonacci Analysis Indicates Potential Up to $450,000
Cryptocurrency commentator MartyParty estimates that based on Fibonacci extensions, Bitcoin could achieve values between $172,000 and $450,000. According to Bitcoin’s historical performance, the next critical level is $107,500, a milestone that could pave the way for higher Fibonacci levels. The ultimate milestone could be the Fibonacci 4.236 level, equivalent to approximately $450,000.
Bull Flag Pattern Suggests Target Above $175,000
Technical analysis reveals that Bitcoin has formed a bull flag pattern on the weekly chart. This pattern typically leads to a breakout and a price increase equal to the prior upward trend. The target price, based on this analysis, is $175,700, representing a 73% increase from the current level.
Additionally, Bitcoin’s daily Relative Strength Index (RSI) stands at 69, signaling that market conditions still favor upward momentum.
Summary
Bitcoin is once again capturing attention, and surpassing the $100,000 milestone paves the way for further growth. Whether analysts’ targets reach $120,000, $200,000, or even $450,000, the current market displays strong bullish signals that could lead to new all-time highs.
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