Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go?

1 week ago

Analyst Tony Severino has revealed that the Bitcoin terms presently has a ceiling of $137,000. This has raised questions astir whether this is the highest constituent that the flagship crypto tin scope successful this marketplace cycle, and the expert besides provided immoderate answers.

Bitcoin Price Ceiling Is At $137,000

Tony Severino mentioned successful an X station that the existent ceiling for the Bitcoin terms is $137,000, portion its level is astir $39,000. He noted that investors could treble their investments from Bitcoin’s existent terms if the crypto reached this target. Meanwhile, a decline to the existent level represents a 50% drop.

When asked if the $137,000 was the people for the bull top, the expert responded that his people was betwixt $160,000 and $180,000. He remarked that $137,000 is conscionable the ceiling arsenic of this period and rises arsenic clip goes by. As such, his $180,000 marketplace apical people could go much feasible successful the adjacent fewer months.

While it remains to beryllium seen whether the Bitcoin terms could scope this $137,000 ceiling oregon adjacent the $180,000 bull apical target, it is astir definite that the flagship crypto mightiness ne'er driblet to the $39,000 level again. This is based connected humanities trends that amusement that Bitcoin ne'er falls beneath its pre-election level aft the US statesmanlike elections person concluded.

Therefore, the adjacent limb of the bull tally has apt begun, and the flagship crypto volition apt proceed to deed caller highs successful the coming months. In an X post, crypto expert Jelle revealed that the Bitcoin terms has resumed its uptrend aft 7 months of sideways action. He added that it shouldn’t beryllium agelong earlier the falling wedge signifier connected Bitcoin’s illustration plays with a emergence to $100,000, the imaginable target.

The Most Bullish Background For Bitcoin At The Moment

Crypto expert CrediBULL, who had earlier present been bearish, said that this could arguably beryllium the astir bullish inheritance for Bitcoin, with the elections implicit and Donald Trump’s victory. He added that if these are the fundamentals driving the market, past the Bitcoin terms is improbable to driblet to $68,000 again.

He besides suggested that this mightiness beryllium the cleanable clip to go bullish connected the Bitcoin terms arsenic the run to $100,000 mightiness person begun. However, helium warned that immoderate violations of the $68,700 level would “drastically” weaken the bullish statement and fortify the carnivore lawsuit further.

Analyst Justin Bennett besides commented connected the imaginable Bitcoin terms rally to $100,000. He said that if hazard assets tin past the Fed’s FOMC gathering today, this could beryllium the determination to $100,000 everyone has waited for.

At the clip of writing, the Bitcoin terms is trading astatine astir $74,800, up successful the past 24 hours, according to information from CoinMarketCap.