{"id":652018,"date":"2024-11-08T01:00:01","date_gmt":"2024-11-08T01:00:01","guid":{"rendered":"https:\/\/wncen.com\/?p=652018"},"modified":"2024-11-07T11:09:56","modified_gmt":"2024-11-07T11:09:56","slug":"bitcoin-price-ceiling-at-137000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-ceiling-at-137000\/","title":{"rendered":"Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Analyst <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-strongest-bull-run\/\"><span style=\"font-weight: 400\">Tony Severino<\/span><\/a><span style=\"font-weight: 400\"> has revealed that the Bitcoin price currently has a ceiling of $137,000. This has raised questions about whether this is the highest point that the flagship crypto can reach in this market cycle, and the analyst also provided some answers.\u00a0<\/span><\/p>\n<h2>Bitcoin Price Ceiling Is At $137,000<\/h2>\n<p><span style=\"font-weight: 400\">Tony Severino mentioned in an X post that the current ceiling for the Bitcoin price is $137,000, while its floor is around $39,000. He noted that investors could double their investments from Bitcoin\u2019s current price if the crypto reached this target. Meanwhile, <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-dip-below-70000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">a decline<\/span><\/a><span style=\"font-weight: 400\"> to the current floor represents a 50% drop.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-price-bottom-100\/\">Dogecoin Price Marks Local Bottom, Can Price Run 100% From Here Again?<\/a><\/div>\n<p><span style=\"font-weight: 400\">When asked if the $137,000 was the target for <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-bull-run-top-historically-proven-indicator\/\"><span style=\"font-weight: 400\">the bull top<\/span><\/a><span style=\"font-weight: 400\">, the analyst responded that his target was between $160,000 and $180,000. He remarked that $137,000 is just the ceiling as of this month and rises as time goes by. As such, his $180,000 market top target could become more feasible in the next few months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While it remains to be seen whether the Bitcoin price could reach this $137,000 ceiling or even the $180,000 bull top target, it is almost certain that the flagship crypto might never drop to the $39,000 floor again. This is based on historical trends that show that Bitcoin never falls below its pre-election level after the <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-bull-run-top-historically-proven-indicator\/\"><span style=\"font-weight: 400\">US presidential elections<\/span><\/a><span style=\"font-weight: 400\"> have concluded.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, the next leg of the bull run has likely begun, and the flagship crypto will likely continue to hit new highs in the coming months. In an <\/span><a href=\"https:\/\/x.com\/CryptoJelleNL\/status\/79586833\" rel=\"nofollow\"><span style=\"font-weight: 400\">X post<\/span><\/a><span style=\"font-weight: 400\">, crypto analyst Jelle revealed that the Bitcoin price has resumed its uptrend after seven months of sideways action. He added that it shouldn\u2019t be long before the falling wedge pattern on Bitcoin\u2019s chart plays with a rise to $100,000, the potential target.\u00a0<\/span><\/p>\n<figure id=\"attachment_652021\" aria-describedby=\"caption-attachment-652021\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-652021\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-1-1.png?w=460&#038;resize=460%2C240\" alt=\"Bitcoin price 1\" width=\"460\" height=\"240\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-1-1.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-1-1.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-652021\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<h2>The Most Bullish Background For Bitcoin At The Moment<\/h2>\n<p><span style=\"font-weight: 400\">Crypto analyst CrediBULL, who had before now been bearish, said that this could arguably be the most bullish background for Bitcoin, with the elections over and <\/span><a href=\"https:\/\/bitcoinist.com\/donald-trump-victory-may-fuel-bitcoin-price-surge\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Donald Trump\u2019s victory<\/span><\/a><span style=\"font-weight: 400\">. He added that if these are the fundamentals driving the market, then the Bitcoin price is unlikely to drop to $68,000 again.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-burn-rate-3674\/\">Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH?<\/a><\/div>\n<figure id=\"attachment_652022\" aria-describedby=\"caption-attachment-652022\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-652022\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-3-1.png?w=460&#038;resize=460%2C240\" alt=\"Bitcoin price 2\" width=\"460\" height=\"240\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-3-1.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-3-1.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-652022\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">He also suggested that this might be the perfect time to become bullish on the Bitcoin price as the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bound-for-100000-as-bitwise-cio-claims-it-doesnt-need-washington-to-succeed\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">run to $100,000<\/span><\/a><span style=\"font-weight: 400\"> might have begun. However, he warned that any violations of the $68,700 level would \u201cdrastically\u201d weaken the bullish argument and strengthen the bear case further.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/bitcoinist.com\/bitcoin-4-year-cycles-are-over\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Analyst Justin Bennett<\/span><\/a><span style=\"font-weight: 400\"> also commented on the potential Bitcoin price rally to $100,000. He said that if risk assets can survive the Fed\u2019s FOMC meeting today, this could be the move to $100,000 everyone has waited for.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, the Bitcoin price is trading at around $74,800, up in the last 24 hours, according to data from CoinMarketCap.<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/N6JRQdzw\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1450\"><figcaption class=\"wp-caption-text\">BTC price remains high | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Analyst Tony Severino has revealed that the Bitcoin price currently has a ceiling of $137,000. This has raised questions about whether this is the highest point that the flagship crypto can reach in this market cycle, and the analyst also provided some answers.\u00a0 Bitcoin Price Ceiling Is At $137,000 Tony Severino mentioned in an X post that the current ceiling for the Bitcoin price is $137,000, while its floor is around $39,000. He noted that investors could double their investments from Bitcoin\u2019s current price if the crypto reached this target. Meanwhile, a decline to the current floor represents a 50% drop.\u00a0 Related Reading: Dogecoin Price Marks Local Bottom, Can Price Run 100% From Here Again? When asked if the $137,000 was the target for the bull top, the analyst responded that his target was between $160,000 and $180,000. He remarked that $137,000 is just the ceiling as of this month and rises as time goes by. As such, his $180,000 market top target could become more feasible in the next few months.\u00a0 While it remains to be seen whether the Bitcoin price could reach this $137,000 ceiling or even the $180,000 bull top target, it is almost certain that the flagship crypto might never drop to the $39,000 floor again. This is based on historical trends that show that Bitcoin never falls below its pre-election level after the US presidential elections have concluded.\u00a0 Therefore, the next leg of the bull run has likely begun, and the flagship crypto will likely continue to hit new highs in the coming months. In an X post, crypto analyst Jelle revealed that the Bitcoin price has resumed its uptrend after seven months of sideways action. He added that it shouldn\u2019t be long before the falling wedge pattern on Bitcoin\u2019s chart plays with a rise to $100,000, the potential target.\u00a0 The Most Bullish Background For Bitcoin At The Moment Crypto analyst CrediBULL, who had before now been bearish, said that this could arguably be the most bullish background for Bitcoin, with the elections over and Donald Trump\u2019s victory. He added that if these are the fundamentals driving the market, then the Bitcoin price is unlikely to drop to $68,000 again.\u00a0 Related Reading: Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH? He also suggested that this might be the perfect time to become bullish on the Bitcoin price as the run to $100,000 might have begun. However, he warned that any violations of the $68,700 level would \u201cdrastically\u201d weaken the bullish argument and strengthen the bear case further.\u00a0 Analyst Justin Bennett also commented on the potential Bitcoin price rally to $100,000. He said that if risk assets can survive the Fed\u2019s FOMC meeting today, this could be the move to $100,000 everyone has waited for.\u00a0 At the time of writing, the Bitcoin price is trading at around $74,800, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":650606,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-652018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go?<\/title>\n<meta name=\"description\" content=\"Analyst Tony Severino has revealed that the Bitcoin price currently has a ceiling of $137,000, giving it 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