MicroStrategy founder and chairman Michael Saylor, a longtime Bitcoin advocate/bull, has dismissed the idea of Bitcoin retracing to $60,000 or lower anytime soon. Speaking to CNBC, Saylor confidently said, “I don’t think it is going to $60,000, it is not going to $30,000, I think it is going to go up from here.”
Saylor credits recent political developments, including Donald Trump’s win in the U.S. presidential election, for supporting advancement of Bitcoin adoption in the U.S. He explained, “I don’t really see any threats on the near-term horizon.” With this confidence, Saylor is already planning a celebration. “I’m thinking it’s probably going to be New Year’s Eve at my house, so I would be surprised if we don’t go through $100,000 in November or December.”
On-chain analyst Willy Woo also shares a bullish outlook for Bitcoin. Woo believes the latest Bitcoin rally is setting the stage for further price increases. He explained to his followers on X that Bitcoin is in “price discovery” mode, meaning there’s no historical resistance to guide the market.
Woo uses Fibonacci bands, a technical analysis tool, to predict Bitcoin’s potential targets. According to him, after consolidating between $88,000 and $91,000, Bitcoin could climb to $102,000, with further increases likely based on liquidation levels and market trends.
#Bitcoin price levels.
88-91k then 102k
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,Explainer.
When BTC breaks into all-time-highs, there's no prior history of resistances for the market to trade around. This means price goes into unfettered price discovery, expect wild swings.
In these situations we have 2…
— Willy Woo (@woonomic) November 12, 2024
Long-Term Predictions from VanEck
Looking further ahead, Matthew Sigel, head of digital assets research at VanEck, predicts Bitcoin will reach $180,000 in this cycle. Speaking on CNBC’s Squawk Box, Sigel explained that Bitcoin’s post-election rally mirrors patterns from 2020, where the price doubled between November and December.
Sigel emphasized that institutional interest is growing, with more advisors seeking to allocate a portion of their portfolios to Bitcoin. “The number of calls that I’m getting inbound from investment advisors who are at zero and looking to get to 1% or at 1% and looking to get to 3%… these calls are starting to accelerate, and we think the flows are going to follow,” he said.
While no one can predict Bitcoin’s exact trajectory, sentiment among analysts remains optimistic. Short-term consolidation around $88,000–$91,000 may pave the way for further gains, with $102,000 and even $180,000 on the horizon. As institutional interest grows and retail investors stay engaged, Bitcoin’s future looks promising.
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