BitcoinThe recent upward momentum has led to speculation within the crypto community about the move towards the $100,000 level and beyond in the current market cycle as many crypto experts predict that the digital asset could soon witness a rally towards the price range.
Bitcoin’s path to $100,000 and beyond is inevitable
As the community anticipates Bitcoin’s rise to a six-figure value, Ali Martinez, a market analyst and investor, has predicted The price spike of BTC to the $150,000 mark in the ongoing cycle while providing insight into the possible timeline for the milestone.
Ali Martinez’s bold prediction, which has sparked excitement among investors and traders, is attributed to the market trends set in the last two bull cycles that often put BTC on an upward trajectory in subsequent days. With bullish momentum building in tandem with positive market conditions, Martinez’s projection reinforces rising optimism about BTCs price outlook in the long term.
It is important to note that the price of BTC has been consolidating for a week after breaking its previous all-time high. Considering Bitcoin’s current price action, the market expert claims that this price behavior is similar to that of the previous two bull cycles, indicating a potential massive upside associated with the increase seen during the periods.
Should past trends repeat, Martinez expects another huge breakout for BTC towards the $150,000 level in the next two days. Moreover, as the analyst foresees a rise to the above level, he has warned of a possible increase of 30%. price correction once this goal is achieved in the coming days.
Another crypto analyst who has predicted that BTC will reach the $100,000 mark and beyond is Michel Van De Poppe, the founder of MN Consultancy. While Ali Martinez expects the digital asset to appreciate in this range over the next two days, Van De Poppe has set his timeline between 1 and 2 months.
With BTC in between $100,000 to $120,000 Van De Poppe believes that this significant rebound will cause a definitive crash on Ethereum, the second largest crypto asset, in the next 1 to 2 months. However, after the development, the expert claims that an altseason will begin, similar to that of 2017.
The upward momentum still holds
BTC continues to show bullish movement and remains fervent above $93,000, raising optimism of further price gains. This robust performance of BTC has led to high adoption by institutions and retail, which could also act as a catalyst for future price growth.
Currently, the crypto asset maintains a healthy price trend of $93,301, showing an increase of almost 2% in the past day. The market cap and trading volume are showing positive action and are up around 2% and 7.45% in the last 24 hours. As bulls gradually take control of the market, BTC could extend its bullish momentum towards several crucial resistance levels such as $93,500 and its new all-time high above $94,000.
Featured image from Unsplash, chart from Tradingview.com