Bitcoin Could Surge to $135,000, Analysts Suggest

Experts at Fairlead Strategies predict that the leading cryptocurrency could rise to $135,000, followed by a correction. This was revealed in an interview with CNBC by the company’s founder, Katie Stockton.

At the time of writing, Bitcoin is priced at $118,300. Over the past 24 hours, the price of digital gold has fallen by 3%, according to CoinGecko. 

The forecast from Fairlead Strategies relies on the “measured move projections” method—a technical analysis approach that considers the scale of past price movements.

“The two-month consolidation that preceded the recent breakout now seems like ancient history. If the current trend continues to the correction phase, we will see Bitcoin at $135,000,” Stockton explained.

She added that the positive momentum of the leading cryptocurrency supports the growth of stocks in companies like Coinbase and Strategy, as well as other assets. Over the past seven days, Ethereum and XRP have risen by 16% and 25% respectively. 

Back on July 14, Bitcoin reached a new all-time high above $123,000. The asset’s market capitalization surpassed Canada’s GDP. 

Earlier, analysts at TD Cowen predicted that the price of digital gold could rise to $155,000 by the end of the year.