Bitcoin Heads for $140K if History Repeats Itself
Bitcoin currently trades at $68,042. Crypto market analysts predict that Bitcoin prices could be headed for a 6-figure price if previous market cycle patterns are to be repeated.
Bitcoin climbed above $71,000 this week, breaking out of the tight trading range it had been confined to for several weeks. Market analysts note that the strong demand for ETFs is one of the main catalysts for this price spike. Over the last seven days, there have been approximately $1.2 billion in ETF net inflows.
Bitcoin Sets Sights to 6-Figure Digits
According to market analysts, the last 2 cycles may provide an indication of where BTC prices might head after breaking the previous all-time high. Bitcoin peaked at around $1,130 in the 2013 cycle. However, the price did not break this level again until March 2017. In the three months that followed, BTC prices doubled.
Moving on, in 2017, BTC broke its $20K all-time high in December 2020. In a month after that, BTC prices doubled.
In 2021, Bitcoin hit $69,000. This all-time high was topped in March 2024, with the coin trading above $73,000. With this analysis, BTC prices could potentially double to around $140,000 within the next few months if cycle history sticks to pattern.
