Bitcoin Soars To New Highs Near $95,000: Analyst Reveals Bullish Price Targets Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	56,722,128,990	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

56,722,128,990

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.01234	3.26%	0.39049	0.39045	0.39049

Price Change

Price Change %

Current Price

Bid Price

Offer

0.01234

3.26%

0.39049

0.39045

0.39049

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.392	0.36918	0.37901	0.37815	0.070760 - 0.439500

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.392

0.36918

0.37901

0.37815

0.070760 - 0.439500

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:14:44	2,500.00	0.39036	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:14:44

2,500.00

0.39036

USD

Price x Volume	Volume	Base Symbol	Related Pairs
175,515,281.77	457,613,869.33	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

175,515,281.77

457,613,869.33

Bitcoin Soars To New Highs Near $95,000: Analyst Reveals Bullish Price Targets Ahead

21/11/2024 10:00am

NEWSBTC

Bitcoin (BTC) achieved a new record high of $94,730, continuing a significant uptrend that began on November 5. Analysts are dubbing this rally the “Trump trade,” as the recent political developments surrounding Donald Trump’s victory have instilled renewed confidence among investors in BTC and the broader crypto market. Analyst Forecasts 42% Increase For BTC Despite the impressive surge, analysts believe Bitcoin’s price discovery is far from complete, indicating substantial potential for further growth. Among those sharing this bullish sentiment is analyst Ali Martinez, who draws parallels between Bitcoin’s current price movements and those seen in December 2020, before the notable uptrend that ultimately led to an all-time high of $69,000 in 2021. Related Reading: Dogecoin Forms A ‘Nasty Triple Top’: Analyst Reveals What’s Next Martinez notes that the relative strength index (RSI), a key technical indicator used to gauge momentum, is currently mirroring the patterns observed in late 2020. This similarity suggests that the BTC price may be poised for significant upward movements in the coming months. According to Martinez, if this trend continues, Bitcoin could target the $108,000 mark, followed by a potential correction to around $99,000, before bouncing back to a predicted milestone of $135,000. This forecast represents an increase of over 42% from current levels, although Martinez did not specify a timeline for these movements, indicating they might occur anywhere between now and the first quarter of 2025. Bitcoin To Reach $1 Million By 2029? In even more optimistic projections, market expert Timothy Peterson, who identifies as a network economist, suggests that Bitcoin’s current bullish trend could persist until November 2025, with ambitious targets set for the future. In a recent post on X (formerly Twitter), Peterson predicted that Bitcoin could reach $275,000 per coin by Thanksgiving Day 2025. He bases this projection on Metcalfe’s Law, which posits that the value of a network is proportional to the square of its number of users. This indicates that as more individuals adopt Bitcoin, its value is likely to increase significantly. Related Reading: BlackRock Bitcoin ETF Options Surge: December 20 Call Signals BTC Price Target Of $180,000 Looking further ahead, the economist also asserts that the Bitcoin price could achieve the coveted valuation of $1,000,000 per coin by 2029, representing a staggering 954% increase from current levels. Trading at $94,730 as of this writing, the largest cryptocurrency on the market has seen massive gains in recent weeks, with a 26% and 39% increase in the fourteen and thirty day time frames, respectively. Furthermore, BTC has reached a market cap valuation of $1.8 trillion, making it one of the most valuable assets in the world, currently ranked 7th, just behind companies such as Nvidia, Microsoft, Google and Amazon. But quite far from the leading asset in this matter which is gold with a market cap of $17 trillion. Featured image from DALL-E, chart from TradingView.com

	Real-time Prices	Level 2
London Stock Exchange
Chi-X Europe
BATS Europe
Aquis Exchange
New York Stock Exchange
NASDAQ
American Stock Exchange
Dow Jones Indices
Precious Metal

	Real-time Prices	Level 2
London Stock Exchange
Chi-X Europe
BATS Europe
Aquis Exchange
New York Stock Exchange
NASDAQ
American Stock Exchange
Dow Jones Indices
Precious Metal

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

DOGEUSD Dogecoin