Analyst predicts Bitcoin could surge 150% to $170,000 after breaking $100,000 milestone

分析師預測比特幣在突破10萬美元里程碑後可能飆升150%至17萬美元
Analyst predicts Bitcoin could surge 150% to $170,000 after breaking $100,000 milestone

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Analyst predicts Bitcoin could surge 150% to $170,000 after breaking $100,000 milestone
Analyst predicts Bitcoin could surge 150% to $170,000 after breaking $100,000 milestone
November 25, 2024


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Bitcoin is rapidly approaching the critical milestone of $100,000, with analysts currently predicting a potential rise of up to 150%, pushing its value to $170,000.
Bitcoin continues to dominate the market spotlight as it heads towards a breakthrough valuation of $100,000. The cryptocurrency almost touched $99,800 on Friday before retreating slightly over the weekend. As of the latest update, the price of Bitcoin is $98,337.84, with a gain of 0.14% in the past 24 hours. Over the past week, the asset has gained 7.19%, reflecting strong upward momentum in the market.
Analyst roadmap shows potential for $170,000
Amid this volatility, market analysts are closely watching the movement of Bitcoin. The roadmap outlined by Egra Crypto on X shows that Bitcoin has the potential to surge to $170,000, although there may be retracements along the way.
The roadmap predicts that Bitcoin will first break through $100,000, reach $102,000 to $104,000, and then experience a significant pullback. This correction could coincide with the CME gap observed between $78,000 and $80,000 on the CME Bitcoin futures chart, a commonly tracked price level.
Further analysis suggests that a break below $73,000 on higher time frames could trigger a chain reaction sell-off. This could result in a retest of the previous breakout level followed by a sharp rebound. The roadmap bears similarities to Bitcoin’s price movement during the 2017-2018 cycle, suggesting the possibility of history repeating itself.


Meanwhile, Bitcoin’s monthly relative strength index (RSI) has recently surpassed the 70 level, according to analyst Moustache on X. The analyst noted that historically, this threshold has typically been followed by significant price increases and the final peak of the market cycle.
The indicator raises expectations for where the market is headed in the coming weeks and months.
Enhanced bullish behavior
Data from CryptoQuant highlights bullish patterns in Bitcoin’s on-chain metrics, suggesting the current rally may still be in its early stages. The platform’s Bull-Bear Market Cycle Indicator has shifted into bullish territory, similar to what was observed in early 2020. This trend preceded Bitcoin’s notable price surge and provides context for current market behavior.
The recent whale accumulation has further boosted market confidence. CryptoQuant CEO Ki Young Ju highlighted that these large-scale purchases drove the rally. Data once seen as exaggerated is now consistent with a continued upward trend in market activity, showing a return of investor confidence.

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