Bitcoin has hit a new high above $87,000 and could bounce past $100,000 amid bullish momentum.
\nIf it happens, the bull market case is for a rally to $150k, an analyst says<\/p>\n
With Bitcoin rallying to a new all-time high above $87,000, the overall sentiment suggests it\u2019s likely to continue higher. Although a breather could be due, analysts are suggesting this might just be a start of a major bull run for the benchmark crypto asset.<\/p>\n
BTC rallied higher after breaching $84k amid MicroStrategy\u2019s $2 billion worth of bitcoin purchase<\/a>. The upward move now sees it trade above $87k. This is after the momentum carried from the past week<\/a>, which saw Donald Trump become president-elect.<\/p>\n According to crypto analyst Kaleo, the next stop for BTC could be $90k before a brief consolidation. However, this might offer the next upward bounce.<\/p>\n Now, past performance is not an indicator of future gains, the market knows. Nonetheless, crypto analyst Kaleo says should Bitcoin price take a similar trajectory to its previous cycle, it could stall around $90k. This should however be only for a brief period before the upside momentum returns to push bulls beyond $100k.<\/p>\n \u201cWhen Bitcoin finally made a clean break above the previous cycle\u2019s all time high in December of 2020, it ripped 22% higher without pulling back over the course of several days before it slowed down a bit,\u201d the analyst posted<\/a> on X. \u201cIt spent about [a] week consolidating [there] prior to beginning another 75% up only run over the course of the next few weeks,\u201d he added.<\/p>\n #Bitcoin<\/a> \/ $BTC<\/a><\/p>\n When Bitcoin finally made a clean break above the previous cycle’s all time high in December of 2020, it ripped 22% higher without pulling back over the course of several days before it slowed down a bit. It spent about week consolidating their prior to beginning\u2026 pic.twitter.com\/UO2IypNLu5<\/a><\/p>\n \u2014 K A L E O (@CryptoKaleo) November 11, 2024<\/a><\/p>\n\n \u00a0<\/p>\n Per the chart the analyst shared, a bull market projection has Bitcoin price at $150k with a 75% breakout. Things may not play out as such, particularly with the market never moving in a straight line. Regardless, the long term view is super bullish for Bitcoin.<\/p>\n \u201cThe fun in this bull market is just getting started,\u201d the analyst opined.<\/p>\n The post Bitcoin breaks $87k; here\u2019s what this analyst says about BTC price<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has hit a new high above $87,000 and could bounce past $100,000 amid bullish momentum. If it happens, the bull market case is for a rally to $150k, an analyst says With Bitcoin rallying to a new all-time high above $87,000, the overall sentiment suggests it\u2019s likely to continue higher. Although a breather could […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1824","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1824"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1824\/revisions"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}