Crypto Analyst Predicts Bitcoin Price Could Reach $260,000
A crypto analyst predicts Bitcoin could reach a price target between $200,000 and $300,000 in this bull cycle, with a potential peak of $260,000. However, a key invalidation level threatens this outlook.
Bitcoin Price Projections
- Analyst Gert van Lagen forecasts a rise to $240,000, followed by a correction, then a rally to between $290,000 and $300,000.
- After reaching this all-time high (ATH), Bitcoin may experience a decline to the range of $220,000 to $260,000.
- Following this period, a significant price drop to between $148,000 and $136,000 is anticipated, marking a potential end to the bull market.
Key Invalidation Level
- The bullish forecast is contingent on Bitcoin maintaining a weekly close above the 40-week LSMA.
- Currently, Bitcoin is consolidating above the critical invalidation level of $73,900.
- A drop below this level could delay or negate the predicted surge.
