Analyst who predicted correction to $90K sets Bitcoin price target for top of current bull cycle
Bitcoin may have already completed its short-term correction and is at the beginning of an upward movement to break the historic $100,000 milestone," Consimo said in an exclusive analysis for Cointelegraph Brazil.
This movement has a price target of $108,000, which could be reached in December, according to the analyst. However, it is important that the bulls do not lose support at $95,000.
If this happens, Bitcoin could return to the region around $90,000, delaying the renewal of its historical highs, warns Consimo.
Bitcoin's all-time high price target in the current bull cycle
Based on the expansion of the total cryptocurrency market capitalization, Consimo projects that the top of the current bull cycle will be reached when the price of Bitcoin reaches the range between $120,000 and $150,000 in 2025.
“We believe Bitcoin could reach values between $120,000 and $150,000 in the current cycle, based on an expected significant expansion of the total cryptocurrency market cap, which could reach $5-7 trillion by 2025,” says Consimo, as outlined in the chart below.