Bitcoin Price At $245,000? Here’s When You Should Be Expecting It

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	18,267,015,805	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

18,267,015,805

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00000100	-3.12%	0.000031	0.000031	0.000031

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00000100

-3.12%

0.000031

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000032	0.000031	0.000032	0.000032	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000032

0.000031

0.000032

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:58:54	3,491,187.00	0.000031	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:58:54

3,491,187.00

0.000031

USD

Price x Volume	Volume	Base Symbol	Related Pairs
17,092,223.18	175,318,030,319.84	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

17,092,223.18

175,318,030,319.84

Bitcoin Price At $245,000? Here’s When You Should Be Expecting It

02/12/2024 5:00pm

NEWSBTC

Considering Bitcoin’s steady bullish momentum following Donald Trump’s win in the US Presidential elections, a crypto analyst believes that continuing this upward trend could see the Bitcoin price hit $245,000 this cycle. The analyst has provided the timeline for this mega price leap, utilizing logarithmic chart patterns and historical data to back his optimistic projection. When Bitcoin Price Will Hit $245,000 TradingView crypto analyst Behdark has released a report that provides a technical overview of the recent Bitcoin price trends and potential future movements. This detailed analysis is based on a two-week (2W) time frame on a chart that presents complete data on the Bitcoin price action. Related Reading: Crypto Analyst Says Litecoin Is About To Pull An XRP, Here’s What He Means Looking at the Bitcoin chart, Behdark highlighted that the pioneer cryptocurrency was moving within a valid price channel, where the midline and resistance trend lines of the channel are drawn from previous highs. These trendlines point to a potential price target between $245,000 and $250,000 by 2025. The analyst acknowledged that he had previously set a medium—to long-term price target of $169,000 for Bitcoin, but has modified his projection to $245,000. At the time of writing, Bitcoin is trading at $95,107, marking a slight 2.18% decline in the last 24 hours. If the cryptocurrency increases to $245,000, it would represent a massive 157% price surge from its current value. Behdark’s optimistic projections of Bitcoin are based on analysis from logarithmic charts and price channels, which are particularly useful in analysing cryptocurrencies. These charts help identify sustainable market trends for a cryptocurrency over medium—to long-term periods. Moving forward, the analyst revealed that Bitcoin has successfully broken and surpassed critical resistance levels between the $77,000 and $78,000 range, indicating a shift in market sentiment. This previous resistance range has now transitioned into a price floor, which will act as a support level for Bitcoin. If Bitcoin’s price drops, Behdark has revealed that the cryptocurrency will likely retest this broken resistance level. Moreover, the Bitcoin price action is exhibiting a Chicago Mercantile Exchange (CME) gap of around $77,000, which, if filled, could reinforce bullish sentiment and reactivate Bitcoin’s upward momentum. Trump Presidency To Influence Crypto Market In his Bitcoin price analysis, Behdark also indicated that a Trump presidency could significantly influence Bitcoin’s future trajectory. The analyst noted that Trump’s support for cryptocurrencies and his upcoming four-year Presidential regime could have a favorable impact on the crypto market. Related Reading: Shiba Inu Burns Spike 7,418% In 1 Week – Can SHIB Price Continue Pushing To New Highs? Behdark believes that favorable political conditions could boost the adoption of cryptocurrencies and significantly trigger a sharp increase in the market capitalization of digital assets like Bitcoin. He further suggested that there would be considerable profit-making, but investors should be mindful and patient regarding risk management during his bull cycle. Featured image created with Dall.E, chart from Tradingview.com

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