The year 2024 ushered in a bullish wave for Bitcoin to bask in. At present, Bitcoin is hovering at the $67k price range and has seemingly adopted a stance that has the token gunning for a remarkable price ascent. The bullish onset of Bitcoin has prompted several crypto enthusiasts to predict the future price path of BTC, adding ambitious price marks for the token to scale and breach.
With Bitcoin ETFs in the mix, the bullish forecasts for Bitcoin have reached a new threshold, with analysts predicting a $173k price spike for BTC to encounter and explore.
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Bitcoin To $173K?
Source: Watcher Guru
Notable crypto expert Egrag Crypto has put up bullish price forecasts for Bitcoin. Adding in more detail, the expert shared that BTC is currently mirroring its bullish phase of 2017, consolidating at fib 1.0, mimicking its historic price trajectory of 2017. He later shared that if BTC continues to follow the predicted path, the token can easily claim an all-new breaking high of $173k by the end of this bullish cyclical phase.
“#BTC Next Target: $173K: I’ve mentioned many times before that this cycle pattern is mirroring the 2017 cycle (Cycle B) . Right now, #BTC is just consolidating around Fib 1.0, just like it did in Cycle B. In Cycle B, we had four4 monthlycandles,s followed by an explosive fifth one . At present, #BTC is also showinfour 4 monthly candles consolidating around the previous ATH. I believe June will see BTC lingering around Fib 1.0, and July will be an explosive month . By the end of this cycle, I foresee #BTC reaching around $173K, around Fib 1.618. ”
At the same time, Bitcoin continues to bask in the bullish realm as three more companies have unveiled new BTC holdings in their portfolios.
Bitcoin’s Inverse Head and Shoulder Pattern Spells a Bull Price Hike
As the US awaits its widely anticipated FOMC minutes, the signs are already signaling a bullish price hike for Bitcoin. Bitcoin’s candlestick chart is breaking into an inverse head-and-shoulder pattern, indicative of an imminent price hike to appear soon.
Moreover, Bitcoin has emerged as the most trending coin of the season. Per Santiment, Bitcoin is pioneering social interest metrics as BTC enthusiasts continue to bank on the token’s impending success.
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