The recent rise in Bitcoin’s price has sparked new optimism in the market. Prominent Bitcoin maximalist Willy Woo and digital asset trading firm QCP Capital share their insights on potential price targets and factors that could drive further BTC growth.

What’s the Next Price Target for Bitcoin?

Woo, a well-known Bitcoin analyst, shared additional price targets for BTC on X (formerly Twitter). He noted that Bitcoin has reached a key resistance range between $88,000 and $91,000, which he attributes to “local fib levels and liquidation levels where most shorts were taken out.”

Woo further explained that reaching this level marks the “end of forced buying by short sellers who were liquidated,” as Bitcoin now consolidates at this resistance point. He also suggested a second key target around $102,000, based on Fibonacci retracement levels calculated from the “last cycle’s high and this cycle’s low.”

Woo added that at these levels, historical resistance is no longer present, pushing Bitcoin into a phase of “unrestricted price discovery” where “significant price swings” can be expected. According to Woo, new resistance levels can be identified using “Fibonacci bands and actual market position liquidation levels,” which he sees as crucial indicators for future Bitcoin price resistance.

Analysis from QCP Capital

Simultaneously, QCP Capital recently analyzed changes in the financial landscape relevant to Bitcoin. In their latest report, the firm compares BTC’s performance with traditional safe-haven assets like gold. QCP analysts highlight that “since the U.S. elections, gold has fallen 5%, while Bitcoin has risen 30%.”

QCP attributes this trend to the growing interest in Bitcoin as “digital gold,” observing a gradual shift of capital from gold to Bitcoin, which signals BTC’s strengthening position among investors traditionally focused on safe assets.

QCP notes that Bitcoin’s market cap, now around $1.73 trillion, has already surpassed that of silver but remains considerably lower than gold’s valuation at $17.5 trillion. QCP estimates that if even 1% of the capital allocated to gold were redirected into BTC, Bitcoin’s price could climb to approximately $97,000.

Rising Interest in Futures and Potential Breakouts

The report also emphasizes that Bitcoin, trading just below $90,000, has led to a sharp increase in futures contracts, especially those expiring at the end of November. QCP notes that “the end-November basis has risen to over 18%, accompanied by high interest in distant call options at strike prices of $110,000 and $120,000.” This trend reflects heightened interest in leveraged positions and suggests that investors are anticipating a potential breakout above the current price level.


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