Bitcoin breaks $87k; here’s what this analyst says about BTC price

• Bitcoin
  has
  hit
  a
  new
  high
  above
  $87,000
  and
  could
  bounce
  past
  $100,000
  amid
  bullish
  momentum.
• If
  it
  happens,
  the
  bull
  market
  case
  is
  for
  a
  rally
  to
  $150k,
  an
  analyst
  says

With
Bitcoin
rallying
to
a
new
all-time
high
above
$87,000,
the
overall
sentiment
suggests
it’s
likely
to
continue
higher.
Although
a
breather
could
be
due,
analysts
are
suggesting
this
might
just
be
a
start
of
a
major
bull
run
for
the
benchmark
crypto
asset.

Bitcoin
hits
$87k:
What
next?

BTC
rallied
higher
after
breaching
$84k
amid

MicroStrategy’s
$2
billion
worth
of
bitcoin
purchase.
The
upward
move
now
sees
it
trade
above
$87k.
This
is
after
the
momentum
carried
from
the

past
week,
which
saw
Donald
Trump
become
president-elect.

According
to
crypto
analyst
Kaleo,
the
next
stop
for
BTC
could
be
$90k
before
a
brief
consolidation.
However,
this
might
offer
the
next
upward
bounce.

Now,
past
performance
is
not
an
indicator
of
future
gains,
the
market
knows.
Nonetheless,
crypto
analyst
Kaleo
says
should
Bitcoin
price
take
a
similar
trajectory
to
its
previous
cycle,
it
could
stall
around
$90k.
This
should
however
be
only
for
a
brief
period
before
the
upside
momentum
returns
to
push
bulls
beyond
$100k.

“When
Bitcoin
finally
made
a
clean
break
above
the
previous
cycle’s
all
time
high
in
December
of
2020,
it
ripped
22%
higher
without
pulling
back
over
the
course
of
several
days
before
it
slowed
down
a
bit,”
the
analyst

posted
on
X.
“It
spent
about
[a]
week
consolidating
[there]
prior
to
beginning
another
75%
up
only
run
over
the
course
of
the
next
few
weeks,”
he
added.

#Bitcoin
/

$BTC

When
Bitcoin
finally
made
a
clean
break
above
the
previous
cycle’s
all
time
high
in
December
of
2020,
it
ripped
22%
higher
without
pulling
back
over
the
course
of
several
days
before
it
slowed
down
a
bit.
It
spent
about
week
consolidating
their
prior
to
beginning…

pic.twitter.com/UO2IypNLu5

—
K
A
L
E
O
(@CryptoKaleo)

November
11,
2024

Per
the
chart
the
analyst
shared,
a
bull
market
projection
has
Bitcoin
price
at
$150k
with
a
75%
breakout.
Things
may
not
play
out
as
such,
particularly
with
the
market
never
moving
in
a
straight
line.
Regardless,
the
long
term
view
is
super
bullish
for
Bitcoin.

“The
fun
in
this
bull
market
is
just
getting
started,”
the
analyst
opined.