Analysis predicts bitcoin price could reach $200,000 despite recent surge
According to BCA Research, despite the recent surge in bitcoin's price, it could potentially rise to $200,000 based on a gauge using 260-day fractal patterns. This gauge indicates that the current levels are nowhere near the levels seen during previous bull market peaks. While bitcoin is currently below the six-figure mark, one firm is predicting that its price could more than double from the current market rate of $90,000. The rise in stablecoin liquidity and bitcoin transactions is contributing to the formation of "Uptober." The ETH/BTC ratio has also slid to its lowest since April 2021.
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