1 month ago
31047
ARTICLE AD BOX
A top crypto market analyst recently hinted at a Bitcoin price rally to $150K, bolstering the market confidence. Meanwhile, the prediction comes as BTC fell below the $61K mark, noting a sharp decline amid a broader market downturn. However, this bullish forecast comes with some conditions, which have also gained notable attention from the market participants.
Analyst Predicts Bitcoin Price To Hit $150K
In a recent analysis, Bob Loukas, a renowned crypto market analyst, shared an optimistic outlook for Bitcoin price. He believes the leading crypto could hit $150,000 during its current bull cycle.
Loukas’ comments come at a time when Bitcoin has struggled, experiencing a sharp decline alongside a broader market downturn. Besides, the market participants are also bracing for a potential crypto market crash ahead. Despite that, Loukas remains confident that BTC is on track for an explosive price movement.
Meanwhile, Loukas pointed out a specific pattern in BTC’s price cycles, which typically last four years. According to him, Bitcoin is about to complete the second year of its current cycle and will soon enter its third year, which is historically marked by significant price gains. He emphasized that BTC has built a solid price foundation over the last eight months, resetting market sentiment.
In addition, he added that easing interest rates further supports the possibility of a major rally. His analysis also highlights that this forecast aligns with the historical price behavior of Bitcoin, reinforcing market confidence.
Source: Bob Loukas, XWhat’s Next For BTC?
A flurry of crypto market experts have shared similar bullish forecasts for Bitcoin price. For instance, in a recent analysis, veteran crypto trader Peter Brandt predicts a BTC rally to $135K, which has sparked widespread discussion in the crypto market.
On the other hand, Bitwise CIO Matt Hougan noted that BTC could hit $80K in the ongoing quarter. He cited several reasons like the upcoming US Presidential election, Fed rate cut, and other reasons, that could support the BTC rally in the coming days.
In addition, CryptoQuant has recently cited a popular analyst Burak Kesmeci who said that BTC should cross the brief $64.5K mark to note further gains. Besides, he warned that if the crypto drops to the $61.6K mark, it could further fuel the bearish trend.
Source: CryptoQuant, XDuring writing, BTC price was down 2.3% to $60,975, with its trading volume slightly rising 1.6% to $27.71 billion. The crypto has touched a 24-hour high of $62,407.46 and a low of $60,314.22, indicating the volatile scenario in the market.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
English (US) ·