Investing.com - Cryptocurrency market analyst Jelly has given a bullish outlook for Bitcoin prices for the rest of the current market cycle. The analyst predicted that the leading cryptocurrency could reach $140,000, and revealed the likely time frame in which such a significant surge could occur.
When will Bitcoin hit $140,000?
In a post on the X platform, Gilley predicted that the price of Bitcoin could see a significant increase to reach $140,000 in the next three months. The analyst pointed to the Cup & Handle pattern, which sets the price target for Bitcoin at this level.
Well-known cryptocurrency analyst Titan of Crypto also suggested that Bitcoin could surge to $140,000 in the next three months. In another post on X, the analyst shared an attached chart, which he called the “Bitcoin Roadmap 2025.”
The attached chart shows that Bitcoin could reach $140,000 by the start of the new year. However, this price is unlikely to mark the ultimate top for Bitcoin, as the currency is likely to continue rising to $150,000.
More optimistic forecasts from market experts
Some market experts have also made more optimistic predictions for the leading cryptocurrency. Engineer Ted Boydston predicted that Bitcoin could reach $225,000, which would be the biggest bullish cycle for the currency.
In the same vein, renowned financial author Robert Kiyosaki has predicted that Bitcoin will reach $350,000 in 2025. While it remains uncertain whether the leading cryptocurrency will reach these levels, fundamental factors such as Donald Trump’s inauguration support the possibility of a continued upward trend.
New Analysis Suggests Bitcoin Is Poised for a Rebound
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In a post on X, cryptocurrency market analyst Ali Martinez noted that Bitcoin price could be in the process of preparing for a recovery. The analyst noted that there is a bullish divergence on the hourly chart against the Relative Strength Index (RSI).
Martinez added that the percentage of Binance traders who are long on Bitcoin has increased from 53.12% to 64%. These traders are said to have a strong track record of making sound investment decisions.
Martinez noted that Bitcoin needs to break through $94,800 to confirm this recovery. A break above this level could send Bitcoin to $95,300 or even $96,000.
Warnings of a possible decline
On the other hand, the analyst warned that if Bitcoin price drops below $93,600, the bullish scenario may become unlikely, as the currency may see a drop to $84,000 or even $70,000.
However, the bullish scenario seems to be more likely to materialize. In another post on “X”, the analyst revealed a significant increase in the buy/sell ratio on the major OKX exchange, indicating an increase in aggressive buying, which is an indicator of a possible bullish momentum in the near future.
