Crypto analyst Jelle highlighted a bullish pattern forming on Bitcoin's chart over the last three years. This 3-year cup and handle pattern could play out by the fourth quarter of this year, suggesting a price target of $100,000 and potentially reaching $140,000.
Other analysts also provide optimistic forecasts. Bernstein analysts predict Bitcoin could reach $90,000 if Donald Trump wins the election. Standard Chartered goes further, targeting $150,000 by year-end under the same condition. Historically, Bitcoin experiences positive returns in the last quarter of every halving year, adding weight to these predictions.
Several factors contribute to these bullish sentiments. The anticipated Fed rate cuts could strengthen investor confidence in Bitcoin. Technical analyses like Titan of Crypto’s bull pennant and SalsaTekila’s Golden Cross add to the optimistic outlook, forecasting Bitcoin could reach up to $158,000 or even above $200,000 in this market cycle.
As of now, Bitcoin is trading around $59,900, experiencing over a 2% increase in the last 24 hours, according to CoinMarketCap data.
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