It has been just revealed the fact that a crypto analyst revealed when he thinks that Bitcoin will be able to hit $100k. Check out the latest reports about this below.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $30,340.
Bitcoin new price prediction
According to a prominent cryptocurrency analyst, Bitcoin (BTC) is anticipated to reach six figures for the very first time in the near future. Kaleo, a well-known analyst on Twitter with over 592,400 followers, predicts that Bitcoin will surpass the $100,000 mark in either late 2024 or early 2025.
“When do you think Bitcoin breaks above $100,000?
My guess is early 2025.
Wouldn’t be shocked to see late 2024. The earlier it happens, the more fun we have in 2025.”
The prediction of Bitcoin reaching six figures is based on its next halving event, projected to occur in April 2024.
The trader is carefully monitoring Bitcoin’s price movement in relation to the Nasdaq 100 index (NDX). Kaleo believes that Bitcoin is surpassing a bearish downtrend compared to the NDX, which has previously indicated the beginning of a significant surge for the cryptocurrency.
“Bitcoin vs. NDX. This is still one of my favorite chart comparisons to watch. BTC historically has had massive rallies vs. tech when it has broken above HTF (high time frame) bearish downtrends like the ones shown below. This is where you stack.”
PlanB on Bitcoin
According to the quantitative analyst known as PlanB, Bitcoin (BTC) may be poised for a significant bull market based on an indicator.
During a recent strategy session on YouTube, PlanB informed his 51,600 followers that Bitcoin’s realized cost price, which calculates the average value of BTC supply at the last movement of coins, is indicating the likelihood of a more noticeable bull market.
PlanB explained that in the past, when the price has risen above the two-year realized cost price, it has typically resulted in significant upward movements.
“The important thing that we see is that the Bitcoin price, the red dots, crossed over the two-year realized cost price, and it already crossed the realized cost price, and it already crossed the five-month, short-term cost price. So now, it’s a new thing… It crossed the two-year realized price, and that’s an important signal. Of course, the month is not over, so we’ll wait and see how [June] closes.”
