The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve's rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day.
While investors would be hoping to see the Bitcoin price reclaim its current all-time high of $108,135 again, a prominent crypto analyst has put forward an audacious target for the market leader. Below is the rationale behind the new bullish target for the Bitcoin price.
Can Bitcoin Price Repeat This 86% Rally?
In a new post on the X platform, NewsBTC head of research Tony "The Bull" Severino shared an interesting prognosis for the price of Bitcoin.
According to the CMT-certified crypto analyst, the flagship cryptocurrency looks primed to reach as high as $178,000.
