By Godspower Owie, Bitcoinist.com, 2024-06-12
As Bitcoin continues to trend below its recent all-time high of $73,000, determining the next trajectory of the asset has been a topic of interest within the cryptocurrency space. Well-known cryptocurrency analyst and enthusiast Javon Marks has made a daring prediction that has drawn the attention of the crypto community, forecasting that the digital asset's value will soon cross into the six-figure territory and surpass the desired $100,000 price level.
Bitcoin Value To Under Massive Surge To $116,652
Marks bases his bullish projection on a confluence of bullish indications that indicate the price of the flagship crypto asset is about to have a big upswing in the upcoming months. Additionally, Marks points to a favorable market condition, which might drive Bitcoin's price significantly.
Related Reading: Bitcoin Maximalist Samson Mow Identifies Godzilla Candle Scenario For BTC – What This Means
His forecast is in line with the general market sentiment, as other traders and analysts project substantial increases for Bitcoin due to its technical and fundamental qualities.
According to the analyst, with the significant bull indication(s) confirmed, Bitcoin's 3D price is presently holding above a vital threshold of $67,559. Thus being above this crucial threshold indicates that the current technical goal for BTC is the $116,652 mark.
Bitcoin's (BTC) 3d price is currently holding above a vital level at $67,559 and being above implies the current technical target to be $116,652 with the major bull indication(s) confirmed.
Javon marks noted that with this objective in place, the digital asset may rise by an additional 66.33% from its current price in order to reach the target. Meanwhile, the only thing standing in the way could be time, suggesting a promising future for BTC.
In support of this bullish structure, the expert pointed out that Bitcoin has verified another Hidden Bullish Divergence and the one before it produced a nearly +200% increase in value. Given that the market might be quietly preparing to display a level of strength not seen before, Marks might see this as a catalyst for BTC to rise to the aforementioned price target.
BTC's 6-Figure Target Is Inevitable
Javon Marks is not the only cryptocurrency analyst who has predicted the crypto asset will reach a 6 figure target in this current bull cycle. Titan of Crypto, a popular market expert has also highlighted Bitcoin's potential to surpass the $100,000 in the upcoming months.
Considering past bull cycle trends, the expert anticipates BTC to reach the coveted $111,000 price level, claiming the move is inevitable. Even though, this level seems intriguing, Titan of Crypto is confident the coin might top out this bull cycle above this target.
At the time of writing, the price of Bitcoin was trading at $67,761, demonstrating a 1% rise in the last 24 hours. Its trading volume has plummeted by over 14%, while its market cap is up by 1.05% in the past day.
