Bitcoin’s Journey to $100,000: Analyst Unveils Bold Forecast
A well-known cryptocurrency expert has outlined a roadmap for Bitcoin (BTC) to reach a new record high.
In a recent YouTube presentation, InvestAnswers’s host, confidently predicts that $100,000 is an easily attainable target for Bitcoin in its upcoming bullish phase.
This analyst asserts that the likelihood of Bitcoin reaching $45,000 before Christmas is strikingly apparent and suggests that even hitting $50,000 is quite plausible.
By analyzing Bitcoin’s historical patterns following its previous three halving events, the trader observed an average duration of 175 days for the leading cryptocurrency to reach new peak values.
Considering Bitcoin’s upcoming halving slated for April 17th, the analyst anticipates the 175-day mark afterward—October 8th, 2024—expecting Bitcoin to hit $69,000 or possibly even earlier.
READ MORE: Crypto Experts Decode Bitcoin Surge: Momentum Signals Confidence
Based on data from crypto market intelligence firm K33 Research, the InvestAnswers presenter highlights Bitcoin’s accelerated recovery compared to past cycles, depicting this phase in the cycle as marked by a higher and quicker ascent. This analysis strengthens the narrative of an extraordinary bull run for Bitcoin.
As of the current moment, Bitcoin is valued at $43,828. Although the cryptocurrency has surged by over 164% since the start of 2023, it remains approximately 36% below its peak of over $69,000 recorded in November 2021.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
