NewsBTC
Jan 31, 2025
8 1

Bitcoin Price Enters Ascending Phase With Target of $123,000

Crypto analyst CobraVanguard reports that Bitcoin has entered an ascending phase following a cup and handle formation, with a price target of $123,000. Key points include:

  • BTC currently trading at approximately $104,700.
  • The predicted rally could see BTC reach $260,000 this market cycle.
  • Other analysts, like Tony Severino, project even higher targets of $321,000 and $345,000.
  • Ali Martinez highlights reasons for further growth, including cycle shifts and the Mayer Multiple indicating potential upside towards $182,000.
  • Technical analysis suggests a possible market top between May and October 2025.

Bitcoin Chart