Bitcoin (BTC) price is expected to breach its all-time high (ATH) either before the halving or within 2024.
Several experts have set their targets at $100K for BTC post-halving.
A veteran trader, however, has set his sights on a $200K peak for the largest cryptocurrency in the world by market cap.
Bitcoin just went on a three-year top as it rallied around $63,000 this week, so many are now on the edge of their seats in anticipation of the digital asset potentially breaking its ATH near $70,000 before the fourth halving in April this year.
BTC Pushing to $100K and $200K
According to analysts, this promising news is just the start of Bitcoin’s bull run. Despite the looming “sell the news” event occurring moments away or immediately after the halving, analysts in The Motley Fool earlier predicted that the ensuing months could position it to another rally. They believe it’s heading to the $100K territory by this time.
Right now, the consensus thinks that the $100K surge of Bitcoin is plausible before 2024 ends or by early 2025. However, veteran trader Peter Brandt’s solid take on the charts last Tuesday revealed that it could breach a price target between $120,000 and $200,000 with the caveat that a close below the previous week’s close could nullify his forecast.
After that, BTC seemed to have displayed a steady climb this week to nearly $64,000 and has long sailed past the $50K area. It should be added that the crypto asset showed a remarkable performance in the past month as it went from $42K to a peak of $64K before settling at around $62K this Saturday morning to close the gap between the prevailing rate and its ATH by less than 10%.
Bitcoin also exhibited utmost resilience amid the FUD created by the sudden crash of Coinbase this week, which the crypto exchange blamed on a “large surge of traffic” in its network. This only shows that the digital coin has already found a firm footing on the $59K and $60K lines.
Bitcoin Price Now
As of this writing at 7:00 AM UTC, Bitcoin price is resting at around $62,000 with a 20% gain compared to last week’s valuation. Thanks to the bull rush within the past few days, BTC just grew its market cap to $1.22 trillion as it solidified its position within the top 10 assets in the world by market cap.
The rankings now place Bitcoin in the number 10 spot between Warren Buffet’s Berkshire Hathaway (with a $882.27 billion market cap) and Mark Zuckerberg’s Meta (formerly Facebook with a $1.28 trillion market cap).
Top Assets in the World by Market Cap (Source: CompanieMarketCap.com)
