Before the Bitcoin Halving event, the BTC price experienced considerable instability, but it has since rebounded, reaching the $66,000 level, triggering bullish predictions from top crypto analysts regarding the future course of the coin .
Cryptocurrency analyst and trader Captain Faibik posted an intriguing post. predictionhighlighting a narrative that could potentially propel the price of Bitcoin to the coveted $100,000 mark in the coming months.
Bitcoin Poised for Notable Rally to $100,000
According to Captain Faibik, Bitcoin managed to hold the $60,000 support level thanks to investor optimism in the market. As a result, the largest crypto asset by market capitalization is currently making a strong comeback.
According to Faibik, these bullish investors need to reclaim the crucial resistance level of $72,000 in order to witness a major rally up to the $100,000 price level. This scenario represents a beacon of hope for the cryptocurrency community, sparking speculation and influencing projections about Bitcoin's future growth potential. Given the expected impact of the Bitcoin halving and bulls, the $72,000 level could be achieved in the short term.
![Bitcoin](https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=460&resize=460%2C220)
The expert previously highlighted that the Bitcoin weekly candle closed above the 10 exponential moving average (EMA), demonstrating that the bulls are still in control of the market. After the descending channel broke out in October last year, BTC Bulls firmly secured the weekly EMA10, prompting the crypto analyst to set his next price target for the digital asset at $100,000.
Faibik also noted that the daily Relative Strength Index (RSI) for Bitcoin came out of a falling wedge pattern. This breakout suggests that a 15-20% bullish rally in Bitcoin's value is on the horizon.
Meanwhile, during the daily time frame, a bull flag formation is underway, and in the event of an upward breakout of the bull flag, Faibik anticipates a new all-time high for Bitcoin by May.
Is a $1.5 million price level possible for BTC?
One of the most optimistic predictions for Bitcoin this year came from the CEO of Ark Invest. Cathie Bois. The CEO predicts that the digital asset will grow by over 2,000% to a whopping $1.5 million by 2030.
During a interview In Hong Kong, Wood reiterated his projections for BTC, which were supported by an extensive investigation including institutional surveys and assessments of market volatility.
She said:
I have been asked this question from different angles, and our analysis from multiple angles indicates that by 2030, Bitcoin could reach $1.5 million. This price prediction is based on a survey of institutions, using discount rate and volatility analysis.
Initially, Wood's forecast for Bitcoin was pegged at $600,000 over the next six years. However, taking into account the effect of Bitcoin Spot Exchange Traded Funds (ETFs)she now believes the piece has the potential to fetch $1.5 million.
Featured image from iStock, chart from Tradingview.com
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