Bitcoin Price Crash Below $100,000 Not The End As Analyst Predicts Another 52% Jump

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	29,790,424,989	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

29,790,424,989

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0516	-5.86%	0.8296	0.8294	0.8295

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0516

-5.86%

0.8296

0.8294

0.8295

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.918	0.824	0.8798	0.8812	0.275966 - 1.33

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.918

0.824

0.8798

0.8812

0.275966 - 1.33

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	09:54:02	411.39	0.8296	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

09:54:02

411.39

0.8296

USD

Price x Volume	Volume	Base Symbol	Related Pairs
47,091,330.66	54,092,694.63	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

47,091,330.66

54,092,694.63

Bitcoin Price Crash Below $100,000 Not The End As Analyst Predicts Another 52% Jump

19/12/2024 5:30pm

NEWSBTC

The Bitcoin price action in the past 24 hours saw it breaking below the $100,000 price mark again very briefly before breaking above it again. Particularly, Bitcoin’s price action in the past 24 hours has been between $98,839.87 and $105,306, highlighting the potential corrections that could occur as the cryptocurrency continues to edge upwards. This fluctuation comes amid a broader bull market cycle that analysts like CryptoCon suggest is far from over. Bitcoin Crash Below $100,000 Not The End Crypto analyst CryptoCon has been a consistent voice in tracking Bitcoin’s movements using Fibonacci extensions during the current market cycle. Back in August, when Bitcoin was hovering around $60,000, CryptoCon projected a surge to $109,236 by December. This prediction was based on the 0.618 Fibonacci extension and eventually played out with remarkable accuracy. Related Reading: Cardano Price Eyes Recovery Toward $2 As Million-Dollar Whale Transactions Explode On The Network Since first breaking above the $100,000 mark on December 5, this price point has proven to be a psychological barrier and there have been multiple retests since then. Despite this back and forth, Bitcoin enthusiasts remain strongly optimistic, and the Crypto Feat And Greed Index remains in Extreme Greed. As such, the correction in the past 24 hours is viewed by CryptoCon as a minor event in a larger narrative. According to the analyst, Bitcoin’s rise to $109,000 marked just one step in its ongoing journey. The analyst emphasized that corrections, while inevitable, are becoming less significant in the context of the increasingly well-established bull market. “Corrections are an afterthought. That doesn’t mean they won’t come, it just means they’re not important,” CryptoCon said regarding corrections. The Next Target: $166,000 By February 2025 Looking ahead, CryptoCon has turned attention toward the 5.618 Fibonacci extension as the next key milestone in Bitcoin’s ongoing bull market. This projection aligns closely with a price target of approximately $162,000. According to the analyst, this ambitious target could materialize as soon as February 2025, given Bitcoin’s current rate of price growth. Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend At present, Bitcoin is trading at $101,600. For the cryptocurrency to reach the $162,000 level, it would need to register another 60% increase from its current price point. CryptoCon does not see the February 2025 target as the conclusion of Bitcoin’s bull run. In fact, the prediction is accompanied by a detailed multi-year chart outlining Bitcoin’s consistent upward trajectory since November 2023. This chart highlights a pattern of steady 52% gains before encountering resistance at Fibonacci extension levels. The path to $162,000 is viewed as one of some price targets before notable corrections. Interestingly, the analysis also hints at an even loftier price target tied to the 6.618 Fibonacci extension level. If Bitcoin were to reach this extreme milestone, it would translate to a price of around $254,100. For now, Bitcoin appears ready for a steady continued growth above $100,000, with corrections in between. Featured image created with Dall.E, chart from Tradingview.com

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