Bitcoin $91,245 (BTC) is currently on a quest for new highs, exceeding $66,660 and pulling its daily peak higher. The formation of a higher low after the recent decline has encouraged cryptocurrency traders for the remainder of October. It is difficult to predict whether this attempt will succeed, but historical data suggests this time might be different.
What Will Be the Price of Bitcoin?
Different analysts have varied predictions. Considering the decreasing growth rate from cycle to cycle, a target of $120,000 for BTC is deemed reasonable. Mister Crypto shared a chart in his recent assessment, indicating that Bitcoin could reach $120,000 if it breaks its current bullish flag.
Moustache pointed out the contradiction faced by those expecting lower lows. Those who targeted $44,000 in the previous significant drop are now setting a low target of $58,000. However, BTC continues to reach new highs as this article is being prepared.
“It’s funny that bears initially expected $44,000 and now assume BTC will drop to $58,000. This tells me one thing:
We will rise even higher.
Let it begin.”
ETH and COTI Coin Predictions
Volumes in cryptocurrencies continue to recover alongside the rise, confirming that the increase is supported by more investors. Traders accustomed to making profits through narrow-range trades now risk being caught off-guard by significant breaks. Kyle recently shared a chart for COTI Coin, indicating that the time for a breakout has arrived.
In his expected bullish scenario, the target is $0.155, but a downward break could remarkably lead to a new low at $0.07. The latest analysis shared by Carl also expects a breakout for Ethereum $3,188. His ETH chart is now adequately challenging the resistance level and could continue up to $3,400 when the rise begins.
“ETH is at the resistance of this large Symmetrical Triangle. If it breaks, the target is $3,400.”
As this article is being prepared, the price of ETH has increased by 3%, reaching approximately $2,660. The total trading volume of all cryptocurrencies has reached $93 billion, with a 23% increase in volume. The cumulative value of cryptocurrencies has surpassed $2.34 trillion, leading Poppe to believe that the breakout target for new all-time highs could be realized.