Famous Analyst: "Bitcoin's Final Peak in This Cycle Will Be $120,000"

▲ Bitcoin (BTC)/ChatGPT generated image

An optimistic forecast has emerged, suggesting that the final peak of the current Bitcoin (BTC) cycle will significantly exceed $120,000.

On April 28 (local time), the cryptocurrency specialized media Bitcoinist reported that Bitcoin's recent price trend is replicating past bull market patterns. Analyst Killa predicted through Diminishing Cycle Analysis that the peak of this rally would be at least $120,000 or more. This analysis method has accurately predicted past Bitcoin highs and lows, earning high trust from investors.

Currently, Bitcoin is attempting an upward breakout, establishing a stable support line above key moving averages. Technical indicators such as the Relative Strength Index and the Moving Average Convergence Divergence also send strong buy signals. Analyst Killa emphasized, "If Bitcoin maintains its current upward momentum, breaking $120,000 is only a matter of time." In particular, the clear phenomenon of whale investors moving large quantities of holdings off exchanges is fueling the price increase.

The increasing adoption of Bitcoin by institutional finance is also a key driver of price increases. Discussions on the CLARITY Act for the U.S. cryptocurrency market structure are progressing, alleviating regulatory uncertainty. Institutional investors are recognizing Bitcoin as an inflation hedge and increasing its portfolio allocation. Continuous capital inflow into Bitcoin spot ETFs strengthens the market's fundamental health and has become a catalyst for ushering in the $120,000 era.

On the supply side, Bitcoin's scarcity is also increasing. With mining rewards halved after the halving, demand has exploded, leading to an analysis that it has entered a supply shock phase. Analysts believe that while the rate of return may be smaller than in past cycles, the absolute height of the price will significantly exceed previous records. $120,000 is considered the most realistic target price in this bull market.

Bitcoin's conquest of the $120,000 mark signifies a qualitative leap for the entire virtual asset market. With technical indicators and the macroeconomic environment all pointing upwards, investors are awaiting the start of a new history. Bitcoin is proving its asset value and rapidly entering the core of the global financial system.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*