A cryptocurrency trading analyst predicts that Bitcoin could reach a new historical high in January 2025, with price targets ranging from $155,000 to $200,000. The analyst suggests that Bitcoin may experience a blow-off top, with a rapid bullish surge peaking around April or May 2025. However, the more likely scenario is that Bitcoin will break out of its current consolidation and enter a lengthy accumulation phase before rising parabolically. The analyst emphasizes that Bitcoin's technical outlook supports this forecast, with notable phases of consolidation followed by a massive rally. Attaining these price targets depends on Bitcoin overcoming the $70,000 resistance, which historical data suggests may be achievable in the near term. An AI tool's analysis also supports the outlook of Bitcoin trading above $70,000 by the end of October. However, caution is needed, as interest in Bitcoin is subdued and regulatory hurdles may arise. As of now, Bitcoin is trading at $68,372 with daily gains of 0.20%.



Other News from Today