Bitcoin Price Prediction: BTC Expected to Hit $140,000 This Year - Analysts Bullish
BTC has surged to $61,386, marking a 4.29% increase in the last 24 hours and a significant recovery from $58,000 just 12 hours ago. This bullish move has sparked optimism among analysts, with prominent crypto analyst Jelle predicting a potential rally to $140,000 by the end of the year.
In a recent tweet, Jelle highlighted that Bitcoin is currently trading within a major descending wedge, with the key $60,000 level acting as a crucial support. He anticipates that the final months of the year will see BTC pushing higher towards the $140,000 target, requiring a 128% surge from current levels.
While achieving this target may take some time, especially if market conditions improve, factors like the launch of Bitcoin spot ETFs and the upcoming Bitcoin halving event are expected to drive long-term bullish sentiment. As a result, Bitcoin could potentially reach a new all-time high in the near future.
In summary, Bitcoin's recent price surge to $61,386 has sparked optimism among analysts, with predictions of a potential rally to $140,000 by the end of the year. Factors like market developments and upcoming events are expected to support Bitcoin's long-term growth, making it a promising investment opportunity for the future.