The post Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go? appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Analyst Tony Severino has revealed that the Bitcoin price currently has a ceiling of $137,000. This has raised questions about whether this is the highest point that the flagship crypto can reach in this market cycle, and the analyst also provided some answers.  Bitcoin Price Ceiling Is At $137,000 Tony Severino mentioned in an X post that the current ceiling for the Bitcoin price is $137,000, while its floor is around $39,000. He noted that investors could double their investments from Bitcoin’s current price if the crypto reached this target. Meanwhile, a decline to the current floor represents a 50% drop.  Related Reading When asked if the $137,000 was the target for the bull top, the analyst responded that his target was between $160,000 and $180,000. He remarked that $137,000 is just the ceiling as of this month and rises as time goes by. As such, his $180,000 market top target could become more feasible in the next few months.  While it remains to be seen whether the Bitcoin price could reach this $137,000 ceiling or even the $180,000 bull top target, it is almost certain that the flagship crypto might never drop to the $39,000 floor again. This is based on historical trends that show that Bitcoin never falls below its pre-election level after the US presidential elections have concluded.  Therefore, the next leg of the bull run has likely begun, and the flagship crypto will likely continue to hit new highs in the coming months. In an X post, crypto analyst Jelle revealed that the Bitcoin price has resumed its uptrend after seven months of sideways action. He added that it shouldn’t be long before the falling wedge pattern on Bitcoin’s chart plays with a rise to $100,000, the potential target. …

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Filed under: News - @ November 8, 2024 1:24 am