What’s Next for Bitcoin (BTC) Price After Surging Above $100K? Top Analyst Predict Local Top and Timeline
Bitcoin has rallied past the anticipated $100k target. Currently trading at around $102,000, many investors have been elated by this feat. But what could be next for the token? Is it going further up? With no resistance ahead, this could be quite challenging to determine. However, expert analytics sometimes give insight into what to expect.
Crypto analyst Master Kenobi has highlighted the significance of Bitcoin breaking the psychological $100K barrier. He points to historical data from previous cycles, noting a distinct pattern that emerged 230 days after the Bitcoin halving, characterized by accelerated growth.
The analyst observes that in the previous cycle, this rapid growth phase reached its local peak within 12 days. Applying this pattern to the current market conditions, Master Kenobi projects a potential local peak around December 17th.
Based on market intuition rather than strict technical analysis, the crypto analyst estimates a local top range between $120K-$125K. The analyst acknowledges that this projection is more speculative and based on market sentiment rather than concrete technical indicators.
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Master Kenobi anticipates continued growth in the altcoin market, with smaller altcoins potentially outperforming both Bitcoin and larger cryptocurrencies, particularly as the cycle progresses. The analyst suggests this presents an opportunity for strategic positioning in the market.
The crypto analyst emphasizes that investors still have time to analyze the market and position themselves effectively. He suggests that this window of opportunity allows for careful consideration of investment strategies before the projected peak.
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