A popular crypto analyst is laying out his timeline for Bitcoin (BTC) to surge to a new all-time high.
In a new YouTube video, the anonymous host of InvestAnswers says $100,000 is an “easy, achievable target” for the king crypto during its next bull run.
The InvestAnswers host says Bitcoin hitting $45,000 before Christmas is looking “extremely obvious,” and notes that it could very likely hit $50,000.
The trader calculated that it took an average of 175 days from Bitcoin’s past three past halving dates for the top crypto asset to reach new all-time highs. With Bitcoin projected to reach its next halving on April 17th, the analyst notes that 175 days after that would be October 8th, 2024.
“I believe, based on history, Bitcoin will hit $69,000 before October 8th. In fact, I believe it’s going to happen a lot before that. I think we could be seeing absolutely crazy times.”
The InvestAnswers host, citing a chart from crypto market intelligence firm K33 Research, notes that Bitcoin is recovering faster than it did during past cycles.
“I added a green arrow to highlight where we are in the cycle. We are higher and we got there faster than previous cycles. [I’ve been] saying for months. This is a real and compelling narrative we have. Bitcoin bull run is incredible.”
Bitcoin is trading at $43,828 at time of writing. The top-ranked crypto asset is up more than 164% since the beginning of 2023 but remains around 36% down from its all-time high of more than $69,000, which it hit in November 2021.
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