Bitcoin in Price Discovery Above $110K: Here Are the Next Big Targets

• Bitcoin’s price skyrocketed beyond $110,000 for the first time ever, and the community was quick to pull out the big prediction guns and lay out the next impressive targets.
• Since the tweet below, BTC’s price has risen even further, and its market cap is well beyond $2.2 trillion. Its realized cap has also been on the rise consistently in the past several weeks.

https://twitter.com/glassnode/status/1925225568817099260?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

$150K or $200K Next?

It took just over four months, but bitcoin managed to do what many thought was impossible just 45 days ago when its price slumped beneath $75,000 and broke its January all-time high of over $109,000. In the following hours, it retraced hard to $106,000, but the bulls took over once again and sent it flying to almost $112,000, which is the current peak.

This puts the asset in a price discovery mode, which means a couple of things: 1) all investors are in profit, and 2) there are no historic resistances ahead. Consequently, many popular analysts took the opportunity to outline the next price targets, starting with Ali Martinez. His most optimistic version sees BTC skyrocketing to almost $150,000.

https://twitter.com/ali_charts/status/1925316673911083149?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

Stockmoney Lizards was a bit more bullish, as they highlighted the possibility of a short squeeze, which can result in an even bigger price surge for BTC of up to $200,000.

https://twitter.com/StockmoneyL/status/1925206534587314211?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

But a Pullback?

Despite the predominantly bullish sentiment across the entire community, there are still some who believe in the old saying – what goes up, must come down. The Wolf of All Streets is still bullish and wants to “fomo on the bitcoin price actions,” but warned that multiple technical indicators have screamed a retracement is on its way. However, he admitted that these indicators have often been wrong in the past.

https://twitter.com/scottmelker/status/1925214779125141627?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

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