Analysts Predict Bitcoin Surge to $135,000 Before Correction

Experts from Fairlead Strategies anticipate that Bitcoin, the leading cryptocurrency, could rise to $135,000 before entering a corrective phase. This was shared by the company’s founder, Katie Stockton, during an interview with CNBC.

As of this writing, Bitcoin is trading at approximately $118,300. Over the past 24 hours, the price of this digital asset has decreased by 3%, based on data from CoinGecko.

The forecast by Fairlead Strategies is based on a method known as «projected measured moves,» a technical analysis approach that focuses on the magnitude of previous price movements.

«The two-month consolidation that preceded the recent breakout now feels like a thing of the past. If the current trend persists into the corrective phase, we could see Bitcoin reach $135,000,» Stockton explained.

She also noted that the positive momentum of Bitcoin is benefiting the stocks of companies like Coinbase and various other assets. For instance, in the last week, both Ethereum and XRP have seen impressive gains of 16% and 25% respectively.

It’s worth mentioning that on July 14, Bitcoin set a new all-time high by surpassing $123,000, with its market capitalization outpacing Canada’s GDP.

Earlier, analysts from TD Cowen predicted that the price of the digital asset could reach $155,000 by the end of the year.