Bitcoin Price on Track for $200,000 Mirroring 1970s Gold Rally
Bitcoin's Recent Price Surge and Future Projections
- Bitcoin has resumed an uptrend, reaching a new all-time high supported by institutional demand.
- Technical analysis suggests Bitcoin may mirror Gold's 1970s rally, potentially reaching $200,000.
- Mikybull Crypto highlights Bitcoin’s price action resembling Gold's historical breakout pattern.
- Bitcoin is forming higher lows on a macro trendline, similar to Gold's setup before its surge.
- Projections indicate Bitcoin is at the 1.272 Fibonacci extension level, with potential targets at $145,355 and $204,000 based on the Livermore Speculative Chart.
- The final peak of this cycle could reach $262,000 according to Livermore’s speculative cycle stages.
- Currently, Bitcoin is trading at approximately $121,450, having slightly retraced from a recent high of $126,080.
