Donald Trump

Bitcoin

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) price is up 2.3% on Jan. 7, establishing a new three-week high of around $102,760.
Data from<a data-ct-non-breakable="null" href="https://pro.cointelegraph.com/" rel="null" target="null" text="null" title="null"> Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/" rel="null" target="null" text="null" title="null">Coinbase</a> shows that the BTC price rose from a low of $91,315 on Dec. 30, rising as much as 11.8% to trade at $101,942 at the time of publication. 
<figure>
 <img alt="Bitcoin Analysis, Markets, Predictions, Donald Trump, Tech Analysis, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-01/01943fe9-1181-7672-8d45-e7e07010ca89" title="">
 <figcaption style="text-align: center;">
 BTC/USD daily chart. Source: Cointelegraph/<a data-ct-non-breakable="null" href="https://www.tradingview.com/x/MFvszCqH/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/MFvszCqH/">TradingView</a>
 </figcaption>
</figure>
This performance has seen BTC <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/btc-price-tops-101k-microstrategy-buy-bitcoin" rel="" target="_self" text="null" title="https://cointelegraph.com/news/btc-price-tops-101k-microstrategy-buy-bitcoin">trade above $100,000</a> for the first time since Dec. 19, 2024, leaving market participants wondering how high Bitcoin’s price may go in the next few weeks or months. 
<h2 id="strong-analysts-set-ambitious-targets-for-bitcoin-price-strong">Analysts set ambitious targets for Bitcoin price</h2>
Bitcoin’s latest recovery has led market analysts and traders to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-eyes-138-k-next-month-as-coinbase-premium-regains-breakeven-point" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-eyes-138-k-next-month-as-coinbase-premium-regains-breakeven-point">set varied BTC price targets</a> based on various analyses and sentiments.&nbsp;
Bitcoin’s current bull cycle may continue toward $120,000, according to <a data-ct-non-breakable="null" href="https://x.com/CJ_Johnson17th/status/1876107101937991962" rel="null" target="null" text="null" title="null">analyst WealthSquad Chris</a>.
In a technical setup shared on his X handle, the analyst showed Bitcoin breaking out of consolidation toward the $100,000 mark.
If this barrier is broken, WealthSquad Chris projects $120,000 as the next likely upside target.
<figure>
 <img alt="Bitcoin Analysis, Markets, Predictions, Donald Trump, Tech Analysis, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-01/01943fe8-8678-74da-b5ab-b0c3550c11bc" title="">
 <figcaption style="text-align: center;">
 BTC/USD daily price chart. Source: <a data-ct-non-breakable="null" href="https://x.com/CJ_Johnson17th/status/1876107101937991962" rel="null" target="null" text="null" title="https://x.com/CJ_Johnson17th/status/1876107101937991962">WealthSquad Chris</a>
 </figcaption>
</figure>
Multiple analysts have also projected higher year-end targets for Bitcoin, including crypto <a data-ct-non-breakable="null" href="https://x.com/mikealfred/status/1875555369906569592" rel="null" target="null" text="null" title="null">investor Mike Alfred</a>, who says BTC price could potentially rise to $200,000, with further targets at $315,000, $500,000, and even $700,000 in this cycle.
“There is zero downside impulse in Bitcoin left,” Alfred said in a post on X, adding BTC could see a retracement to $95,000 or $96,000 before heading higher.&nbsp;
<h2 id="strong-daily-fibonaccis-put-btc-price-at-450-000-strong">Daily Fibonaccis put BTC price at $450,000</h2>
Based on its historical performance and Fibonacci extensions, Bitcoin could also be on track to reach between $172,00–$450,000, according to <a data-ct-non-breakable="null" href="https://x.com/martypartymusic/status/1875631538102301182" rel="null" target="null" text="null" title="null">crypto commentator MartyParty</a>.
Based on its performance since the $5,000 level in mid-2019, the Bitcoin price has successfully surpassed all the extension levels, as shown in the chart below. 
The price has now to overcome the 1.0 Fibonacci extension level at $107,500, which is the next target, before advancing toward higher extensions, such as 2.618 and beyond.
<figure>
 <img alt="Bitcoin Analysis, Markets, Predictions, Donald Trump, Tech Analysis, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-01/01943fe7-d5de-7d20-9659-95f22d898329" title="">
 <figcaption style="text-align: center;">
 BTC/USD daily chart. Source: <a data-ct-non-breakable="null" href="https://x.com/martypartymusic/status/1875631538102301182" rel="null" target="null" text="null" title="https://x.com/martypartymusic/status/1875631538102301182">MartyParty</a>
 </figcaption>
</figure>
The chart suggests that the highest milestone could be the 4.236 level, which is near $450,000, according to MartyParty.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etfs-scooped-up-270-more-bitcoin-than-produced-december" rel="null" target="null" text="null" title="null">Bitcoin ETFs scooped up almost 3X more BTC than produced in December</a>
<h2 id="strong-bitcoin-bull-flag-places-upside-target-above-175-000-strong">Bitcoin bull flag places upside target above $175,000&nbsp;</h2>
From a technical perspective, the Bitcoin price action has led to the formation of a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/what-is-a-bull-flag-chart-pattern-and-how-to-spot-it" rel="null" target="null" text="null" title="null">bull flag</a> pattern in the weekly timeframe, a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.
<figure>
 <img alt="Bitcoin Analysis, Markets, Predictions, Donald Trump, Tech Analysis, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-01/01943fe7-5a76-78c0-9842-fbb7c7614af9" title="">
 <figcaption style="text-align: center;">
 BTC/USD weekly chart. Source: Cointelegraph/<a data-ct-non-breakable="null" href="https://www.tradingview.com/x/7RnMNze8/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/7RnMNze8/">TradingView</a>
 </figcaption>
</figure>
Bull flags typically resolve after the price breaks above the upper trendline and rises by as much as the previous uptrend’s height. This puts the upper target for Bitcoin price at $175,700 — up 73% from the current price.
Additionally, Bitcoin’s daily relative strength index is positive at 69. This suggests that the market conditions still favored the upside, boosting BTC’s chances of reaching its bull flag target.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

How high can Bitcoin price go?

Table of Contents

Cointelegraph

Other articles published on Dec 5, 2024

Crypto: Ripple Falls By 13% Despite Bitcoin At $100,000

Metacade Names Blockchain Expert Anndy Lian to Advisory Board, Strengthening Onchain Gaming Visio...

Robot Musk (MUSKROBO) Solana Memecoin to Surge 14,000% Before Exchange Listing, While Shiba Inu a...

What’s Next for Bitcoin After $100K? Experts Reveal Targets for 2024

Goodbye Gensler, Hello Atkins: What This Means for Your Crypto Investments

Finally, a Bull Run We Deserved: BTC, DeFi, Trading Volumes Soar to New ATHs

Join our free newsletter for daily crypto updates!