AND modern price target for Bitcoin was set at $109,000, and the analyst predicts that the pioneering cryptocurrency could grow to this projected level before the end of the year. This bullish forecast comes as Bitcoin experiences modern momentum that has pushed its price well above $67,000.

Bitcoin’s modern target set at $109,000

A Bitcoin technical analyst identified as “CryptoCon” contacted X (formerly Twitter). expose its bullish Bitcoin price forecast. Although many analysts be careful that the fourth quarter is a significant growth period for Bitcoin, CryptoCon confirms this sentiment, forecasting that the Bitcoin price could reach $109,000 as early as December 2024.

In the analyst’s words, “$109,000 is the next rung on the Bitcoin ladder.” This suggests that the analyst is confident about it Bitcoin could reach this modern all-time highbut it can also boost even more over time.

We provide a detailed chart Historical Bitcoin price movementsthe analyst highlighted periods where Bitcoin reached modern highs, suggesting a possible correlation with previous growth trends. In April and July 2023, Bitcoin experienced a massive surge of 52%, pushing its price to $30,362 at the 1.618 Fibonacci retracement level.

Again in January 2024, the cryptocurrency saw another 52% gain, jumping to $46,831 at the 2.618 Fibonacci level. Recently, around March, Bitcoin witnessed another price boost of 52%, reaching the current level highest ever above $73,000, with the price dropping slightly to $71,000 in May.

Following this historical trend, CryptoCon predicts that Bitcoin is poised for another 52% surge, potentially reaching $109,000 at the 4.618 Fibonacci level. The analyst emphasized this Bitcoin’s recent price boost had a different tone, pointing to the possibility of a sustained bull run.

Moreover, the analyst confidently stated that a recession or bear market this is unlikely to happen for Bitcoin in the near future. He says all conditions are perfectly aligned to make 2025 the year of all-time records.

Bitcoin price exceeds $67,000

Bitcoin recently broke above the $67,000 mark for the first time since July amid hype and demand for it Spot Bitcoin ETF he was still forceful. The unexpected market rebound has brought significant profits to many people short-term Bitcoin holders.

While Bitcoin’s value rose as high as $67,820 at one point in the last 48 hours, the price of the cryptocurrency has since stabilized and currently stands at $67,170. CoinMarketCap data shows that Bitcoin’s price has increased by more than 10% in the last seven days, highlighting investor interest growing interest and demand in a pioneering cryptocurrency.

Additionally, the data also showed that the broader Bitcoin community is 69% bullish, while only 31% are bearish. This suggests that positive investor sentiment towards Bitcoin is growing as they can expect further price increases to come.

Featured image created with Dall.E, chart from Tradingview.com