{"id":25133,"date":"2024-12-02T17:00:15","date_gmt":"2024-12-02T17:00:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25133"},"modified":"2024-12-02T17:00:15","modified_gmt":"2024-12-02T17:00:15","slug":"bitcoin-price-at-245000-heres-when-you-should-be-expecting-it","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25133","title":{"rendered":"Bitcoin Price At $245,000? Here\u2019s When You Should Be Expecting It"},"content":{"rendered":"

Considering Bitcoin\u2019s steady bullish momentum <\/a>following Donald Trump\u2019s win in the US Presidential elections, a crypto analyst believes that continuing this upward trend could see the Bitcoin price hit $245,000 this cycle. The analyst has provided the timeline for this mega price leap, utilizing logarithmic chart patterns and historical data to back his optimistic projection<\/a>.<\/p>\n

When Bitcoin Price Will Hit $245,000<\/h2>\n

TradingView crypto analyst Behdark has released a report<\/a> that provides a technical overview of the recent Bitcoin price trends and potential future movements<\/a>. This detailed analysis is based on a two-week (2W) time frame on a chart that presents complete data on the Bitcoin price action<\/a>.<\/p>\n

Looking at the Bitcoin chart, Behdark highlighted that the pioneer cryptocurrency was moving within a valid price channel, where the midline and resistance trend lines of the channel are drawn from previous highs. These trendlines point to a potential price target<\/a> between $245,000 and $250,000 by 2025.\u00a0<\/p>\n

The analyst acknowledged that he had previously set a medium\u2014to long-term price target of $169,000 for Bitcoin, but has modified his projection to $245,000. At the time of writing, Bitcoin is trading at $95,107, marking a slight 2.18% decline in the last 24 hours. If the cryptocurrency increases to $245,000, it would represent a massive 157% price surge from its current value.\u00a0\u00a0<\/p>\n

Behdark\u2019s optimistic projections of Bitcoin<\/a> are based on analysis from logarithmic charts and price channels, which are particularly useful in analysing cryptocurrencies. These charts help identify sustainable market trends<\/a> for a cryptocurrency over medium\u2014to long-term periods.\u00a0<\/p>\n

Moving forward, the analyst revealed that Bitcoin has successfully broken and surpassed critical resistance levels<\/a> between the $77,000 and $78,000 range, indicating a shift in market sentiment<\/a>. This previous resistance range has now transitioned into a price floor, which will act as a support level for Bitcoin.<\/p>\n

If Bitcoin\u2019s price drops<\/a>, Behdark has revealed that the cryptocurrency will likely retest this broken resistance level. Moreover, the Bitcoin price action is exhibiting a Chicago Mercantile Exchange (CME) gap<\/a> of around $77,000, which, if filled, could reinforce bullish sentiment and reactivate Bitcoin\u2019s upward momentum.<\/p>\n

Trump Presidency To Influence Crypto Market<\/h2>\n

In his Bitcoin price analysis, Behdark also indicated that a Trump presidency<\/a> could significantly influence Bitcoin\u2019s future trajectory. The analyst noted that Trump\u2019s support for cryptocurrencies<\/a> and his upcoming four-year Presidential regime could have a favorable impact on the crypto market.<\/p>\n

Behdark believes that favorable political conditions<\/a> could boost the adoption of cryptocurrencies and significantly trigger a sharp increase in the market capitalization of digital assets like Bitcoin. He further suggested that there would be considerable profit-making, but investors should be mindful and patient regarding risk management during his bull cycle.<\/p>","protected":false},"excerpt":{"rendered":"

Considering Bitcoin\u2019s steady bullish momentum following Donald Trump\u2019s win in the US Presidential elections, a crypto analyst believes that continuing this upward trend could see the Bitcoin price hit $245,000 this cycle. The analyst has provided the timeline for this mega price leap, utilizing logarithmic chart patterns and historical data to back his optimistic projection. […]<\/p>\n","protected":false},"author":0,"featured_media":25134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25133"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25133"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25134"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}