In 2024, a new bullish wave was born. Bitcoin Bask in. Bitcoin currently hovers at $67k, and it appears that the token has adopted an aggressive stance to achieve a price increase. Bitcoin’s recent bullish trend has caused several crypto enthusiasts predict BTC’s future price trajectory, setting ambitious targets.
The bullish predictions for Bitcoin are now at a higher level, as analysts predict a BTC price surge of up to $173k.
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Bitcoin to $173K?
Egrag Crypto is a well-known crypto expert who has forecasted bullish prices for Bitcoin. The expert went on to explain that BTC’s current bullish phase is mirroring the price trend of 2017 and consolidating around fib 1.0. Later, he said that BTC can reach a new breaking high of $173k if it continues on the path predicted by him.
“#BTC Next Target: $173K: I’ve mentioned many times before that this cycle pattern is mirroring the 2017 cycle (Cycle B) 📈. Right now, #BTC is just consolidating around Fib 1.0, just like it did in Cycle B. In Cycle B, we had four4 monthlycandles,s followed by an explosive fifth one 🔥. At present, #BTC is also showinfour 4 monthly candles consolidating around the previous ATH. I believe June will see BTC lingering around Fib 1.0, and July will be an explosive month 🚀. By the end of this cycle, I foresee #BTC reaching around $173K, around Fib 1.618. 📊💥”
Bitcoin is still a bullish market, as more than three companies are adding BTC to their holdings.
Bitcoin’s Inversed Head and Shoulder pattern Spells Bull Price Hike
While the US waits for its FOMC minutes which are highly anticipated, signs already point to a price increase in Bitcoin. Bitcoin’s chart has broken into an inverse “head-and-shoulders” pattern. This is a sign of upcoming price increases.
Moreover, Bitcoin Has emerged as the coin that is most in demand this season. According to Santiment’s report, Bitcoin pioneers social interest metrics while BTC supporters continue to bet on BTC’s imminent success.
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Source: watcher.guru
