CryptoCon, a crypto analyst, has found a technical sign that has accurately predicted Bitcoin’s local highs during this bull run. CryptoCon recently wrote on X (formerly Twitter) that the Bitcoin Fibonacci increase could push the price of Bitcoin above $100,000, with a possible end goal of $109,236 by December 2024.
This guess comes from the fact that Bitcoin’s local high points have happened one month earlier than they did the year before.The expert said that BTC reached a local high point in January 2024. This was the third time in 2023 that a top had occurred earlier than the previous one. The next peak might happen in December 2024 if this trend keeps going.
Bitcoin Price Predictions Align
Geoffrey Kendrick of Standard Chartered thinks BTC could hit $100,000 before the U.S. elections in November and maybe $150,000 by the end of the year if Trump wins the presidency. This prediction fits with other market predictions.
CryptoCon, on the other hand, made it clear that the $109,000 goal might not be Bitcoin’s final high point. This means that the bull run could last until 2025.Other experts, like Michael van de Poppe and Rekt Capital, have also predicted that BTC price will go up a lot.
Based on the Hashrate/Market Cap ratio, Van de Poppe said BTC could reach $250,000 during this market cycle, and Ki Young Ju, CEO of CryptoQuant, said the market would peak at $265,000.
CoinMarketCap data shows that BTC is selling around $58,600 right now, down more than 3% in the last 24 hours.
