Bitcoin price is slowly crossing the border $70,000 signwhich shows a steady upward trend despite downward pressure resulting from the bearish performance of the index Stock market in the USA. Given Bitcoin’s recent price movements, a cryptocurrency analyst has suggested that the pioneering cryptocurrency may be preparing for robust bull wave this could boost its price by more than 70%, passing the $100,000 mark.

Here’s how high the analyst projects Bitcoin’s next price will be

Popular cryptocurrency analyst Javon Marks revealed on Thursday in post X (formerly on Twitter) that Bitcoin’s recent price movements signal upcoming bull rally. The analyst noted that Bitcoin’s current market conditions resemble past patterns and trends.

Marx provided a detailed chart showing Bitcoin price action from 2023 to present. The analyst noted that the price of Bitcoin has formed Hidden bull divergence pattern in 2023, covering the period from February to November. Similarly, the cryptocurrency is currently developing another Hidden Bullish Divergence pattern that begins at the beginning of the year and appears to extend until the end of the year.

Based on these parallel price movements, Marks suggests that Bitcoin is poised for a significant rally to modern highs soon. The analyst anticipates this Bitcoin’s next target is currently 70% above the current price, with the potential to rise as high as $116,652 amid one of the most explosive bull runs ever seen.

From Mark X’s post, we can see that the analyst has consistently forecast a Bitcoin price target of $116,600. His earliest Bitcoin forecast This record high occurred on September 12, when he stated that Bitcoin’s price boost to over $116,600 was still 100% possible.

Mark’s unwavering belief in this price target suggests a robust belief that Bitcoin is poised to reach a modern ATH this cycle. According to CoinMarketCap, Bitcoin is currently trading at $67,601, up 1.31% over the past 24 hours and 5.86% over the past month.

The price of Bitcoin may even rise above $116,000

Another well-known cryptocurrency analyst identified on X as “Yoddha”. presented Bitcoin price chart highlighting another bullish price target. With a caption that reads: “When in doubt, zoom out,” the analyst expressed confidence that Bitcoin will skyrocket this season.

On the price chart, the analyst indicated his next target for Bitcoin, indicating that the price of the cryptocurrency could rise in the range of $130,000 to $170,000. This price boost is expected to occur around 2025, when the bull market will be in full swing.

Elja, market expert X, on the other hand, did just that predicted more conservative price target for Bitcoin, expecting the cryptocurrency to rise to a modern ATH of around $94,000. However, the analyst believes that this massive price recovery will start in October.

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