Bitcoin Surges Past $105K: Is a $200K Rally on the Horizon?

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According to crypto expert Tony Severino, he’s shared some perspectives on the recent Bitcoin price trends. Specifically, he noted that the dominant position of Bitcoin has surpassed $105,400, suggesting possible future directions for this leading cryptocurrency.

What’s Next For Bitcoin Price As Upper Band Moves Above $105,400?

In a recent post on X, Severino shared that Bitcoin’s upper limit has surpassed $105,400. This new development seems to align with his earlier analysis where he suggested possible outcomes when the price exceeds $105,400. In this earlier analysis, the crypto analyst hinted that things might become more intriguing if BTC manages to break above $105,400.

After making note of Bitcoin’s 90% increase from its lowest point near the lower band to the current peak, the analyst forecasted that it could potentially reach $170,000. This prediction was made based on past occurrences, where Bitcoin previously showed a false move towards the lower band before eventually climbing up to the upper band.

According to Severino’s analysis, there’s a strong possibility that the price of Bitcoin could experience an additional 90% increase, potentially reaching up to $170,000. This predicted high might signal the peak for Bitcoin as its flagship cryptocurrency. Severino suggests that a discussion about the cycle top for Bitcoin would be appropriate once it reaches this $170,000 target.

Experts at Standard Chartered and Bernstein believe that the price of Bitcoin might surge past its current target of $170,000. In fact, they predict that it could reach $200,000 by the end of this year. The analysts from Bernstein even consider a $200,000 target by year-end as a conservative estimate, implying that Bitcoin might rise even further.

The positive perspective towards Bitcoin largely arises due to the upcoming inauguration of Donald Trump on January 20th. As a pro-cryptocurrency president-elect, it is anticipated that Trump will establish a Strategic Bitcoin Reserve within the country. This move is expected to significantly increase the adoption of Bitcoin.

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The bullish sentiment regarding Bitcoin primarily originates from Donald Trump’s upcoming presidency on January 20th. Given his pro-crypto stance, there is speculation that he will create a Strategic Bitcoin Reserve within the U.S., which could substantially enhance the use of Bitcoin.

BTC Not Far Away From A New All-Time High 

Bitcoin expert Rekt Capital believes that Bitcoin could soon set a new record high (highest price ever reached). In a recent post, he pointed out that Bitcoin is just one daily barrier away from breaking through to yet another new record high. The cryptocurrency analyst also mentioned that if the daily closing price manages to surpass the final barrier and then there’s a retest after the breakout, it could propel Bitcoin into uncharted territory (exploring prices never seen before).

For now, Rekt Capital predicts that Bitcoin will remain within a range of $101,000 to $106,000. However, Crypto analyst Titan of Crypto presents a more positive perspective, suggesting that the leading cryptocurrency has commenced its surge. He noted that, as expected, it has overcome resistance and is now set for a robust increase.

Currently, as I’m typing this, Bitcoin was approximately valued at $103,509, representing an increase over the past 24 hours, based on data from CoinMarketCap.

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2025-01-19 05:11