Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go? 📈
Analyst Tony Severino suggests that the current ceiling for Bitcoin's price is $137,000, with a floor around $39,000. He believes it's possible for investors to double their investments if Bitcoin reaches this ceiling, although a drop to the floor would mean a 50% loss.
The analyst mentioned a target range between $160,000 and $180,000, and that $137,000 is just a current ceiling which may rise over time. This makes the $180,000 target potentially achievable in the next few months.
Historical trends show Bitcoin rarely falls below its pre-election levels after US presidential elections, suggesting the chances of hitting these highs are significant.
Another crypto analyst, Jelle, noted Bitcoin resuming its uptrend after a long sideways trend, suggesting a possible rise to $100,000.
According to another analyst, CrediBULL, the post-election environment provides a positive backdrop for Bitcoin's price increase, estimating the potential for reaching $100,000. However, breaking the $68,700 level could weaken bullish trends.
Justin Bennett, another analyst, suggests a Bitcoin price rally to $100,000 is possible if risk assets endure the Federal Reserve's FOMC meeting. At present, Bitcoin trades around $74,800, as per CoinMarketCap.
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