Rally

Bitcoin

Captain

Notable

Prior to the Bitcoin Halving event, BTC’s price saw considerable instability, but it has since rebounded, reaching the $66,000 level, triggering bullish predictions from top crypto analysts regarding the coin’s future path. 
Captain Faibik, a crytocurrency analyst and trader, has emerged with an intriguing <a href="https://x.com/CryptoFaibik/status/1782607799559627136" target="_blank" rel="noopener nofollow">prediction</a>, underscoring a narrative that could potentially propel the price of Bitcoin to the coveted $100,000 mark in the upcoming months. 
<h2 id="bitcoin-poised-for-a-notable-rally-to-100-000">Bitcoin Poised For A Notable Rally To $100,000&nbsp;</h2> 
According to Captain Faibik, Bitcoin has managed to hold the $60,000 support level in the wake of bullish investors in the market. As a result, the largest crypto asset by market cap is currently making a strong comeback. 
These bullish investors, according to Faibik must reclaim the crucial $72,000 resistance level in order to see a major rally to the $100,000 price level.&nbsp;This scenario acts as a ray of hope for the cryptocurrency community, igniting speculations and influencing projections about Bitcoin’s potential for future growth. Given the anticipated impact of the Bitcoin Halving and bulls, the <a href="https://www.newsbtc.com/bitcoin-news/is-a-72k-bitcoin-surge-on-the-horizon-glassnodes-analysis/" target="_blank" rel="noopener ">$72,000 level</a> could be realized in the short term. 
<img loading="lazy" decoding="async" class="size-medium wp-image-604904" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=460&amp;resize=460%2C220" alt="Bitcoin" width="460" height="220" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=2531 2531w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=460&amp;resize=460%2C220 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Captain-Faibik-Bitcoin-Chart-1.jpg?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
The expert previously highlighted that the Bitcoin weekly candle closed above the Exponential Moving Average (EMA) 10, demonstrating that the bulls are still very much in charge of the market. Following the Descending Channel break out in October last year, BTC Bulls has firmly secured the weekly EMA10, prompting the crypto analyst to put his next price target for the digital asset at $100,000. 
Faibik also noted that the daily Relative Strength Index (RSI) for <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-pump-66k/" target="_blank" rel="noopener ">Bitcoin</a> has emerged from a falling wedge pattern. This breakout suggests that a 15% to 20% bullish rally in Bitcoin’s value is on the horizon. 
Meanwhile, in the daily timeframe, a bullish flag formation is underway, and in the event of an upward breakout from the bullish flag, Faibik anticipates a new all-time high for Bitcoin by May. 
<h2 id="is-a-1-5-million-price-level-possible-for-btc">Is A $1.5 million Price Level Possible For BTC?</h2> 
One of the most bullish predictions for Bitcoin this year came from Ark Invest Chief Executive Officer (CEO) <a href="https://www.newsbtc.com/news/bitcoin/cathie-wood-bitcoin-cash-gold/" target="_blank" rel="noopener ">Cathie Wood</a>. The CEO foresees the digital asset to rise by over 2,000% reaching a whopping $1.5 million by 2030. 
During an <a href="https://wublock.substack.com/p/cathie-wood-iinterview-in-hk-bitcoin?r=jbpop&amp;utm_campaign=post&amp;utm_medium=web&amp;triedRedirect=true" target="_blank" rel="noopener nofollow">interview </a>in Hong Kong, Wood reiterated her projections for BTC, which were supported by a thorough investigation that included institution surveys and evaluations of market volatility. 
She stated: 
<blockquote>
 I have been asked this question from different angles, and our analysis from multiple perspectives indicates that by 2030, Bitcoin could rise to $1.5 million. This price prediction is based on a survey of institutions, using a discount rate and volatility analysis.
</blockquote> 
Initially, Wood’s forecast for Bitcoin was estimated at $600,000 in the next six years. However, considering the effect of the <a href="https://www.newsbtc.com/bitcoin-news/beyond-bitcoin-etfs-there-are-other-players/" target="_blank" rel="noopener ">Bitcoin Spot Exchange-Traded Funds (ETFs)</a>, she now believes the coin has the potential to hit $1.5 million. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/Md0sxrGj/" alt="Bitcoin" width="2273" height="1351">

Analysts Identify Key Scenario For Bitcoin Hitting $100,000

Table of Contents

NewsBTC

Other articles published on Apr 24, 2024

Consider an Alternative: Experts Eye Potential Amid Rising SOL and BNB

Glassnode: Bitcoin’s issuance rate sinks lower than gold’s after fourth halving

Ethereum’s Market Position Strengthens as Key Levels are Tested

Solana’s Strong Performance Shakes Up Crypto Rankings

Top 5 NFT Marketplaces On Solana This Week By Volume – Magic Eden Takes The Top Spot

Sam Altman's Worldcoin Meets Malaysian Leaders as Crypto Project Aims to Bolster Government Ties

Join our free newsletter for daily crypto updates!