Bitcoin Price Analysis? Top Crypto Analyst Predicts $83,000 Price Target

Despite multiple crashes in recent months, expectations for Bitcoin’s price remain high. Crypto analyst Mikybull Crypto predicts that Bitcoin could soon reach a new all-time high of around $83,000. This raises the question: Could this be the beginning of a new bull run?

Bitcoin Price To Surge $83,000

Recent market trends have shown Bitcoin experiencing a notable recovery. Over the past 24 hours, Bitcoin’s price has increased by 3% and has bounced back by 7.5% from a low of $52,859 recorded earlier in September. 

Meanwhile, this rally has caught the attention of many, including Mikybull, who sees a bullish trend continuing soon. As per the Milkybull crypto analysis, his prediction is based on a bullish head-and-shoulders reversal pattern observed in 2-day BTC/USDT charts. 

Mikybull this prediction aligns with his previous analysis, which identified a bullish diamond formation on Bitcoin’s 8-hour time frame. Mikybull’s analysis indicated that this pattern could drive Bitcoin’s price to approximately $83,387, reinforcing his prediction of a surge to $83,000.

Contrasting View Analysis

Mikybull’s bullish prediction contrasts with veteran trader Peter Brandt’s earlier target of $73,300. According to Brandt, for Bitcoin to signal a full market recovery and ignite a long-term bull run, it needs to break its previous all-time high. 

His analysis suggests that Bitcoin must surpass key resistance levels to shift market sentiment and confirm a true reversal.

Bitcoin Price Analysis

Look at the bitcoin price analysis BTC recently faced resistance at the $58,041 level. If it successfully breaks this resistance, we could see the price surge towards the next resistance level of $60,000. 

On the other hand, if Bitcoin falls below the $54,000 mark, it could test lower levels, potentially reaching $52,000.

As of now, Bitcoin is trading at around $57,341, showing a 4% increase in the last 24 hours. Meanwhile, the trading volume has surged by 43.8% during the same period, bringing its market cap to $1.13 trillion.