Cointelegraph: "Bitcoin, if it maintains $110,000, it will challenge $150,000"

"If It Overcomes Selling Pressure at $113,800, It Will Surge"
BTC Rides Upward Trend, Breaks New All-Time High Around 2 PM

Experts predicted that Bitcoin (BTC), which has set a new all-time high, will rise even more aggressively if it maintains the $110,000 level.

Bitcoin recorded $116,526 around 6:20 AM on the 11th, driven by institutional buying. As Bitcoin broke through its all-time high, experts predicted that its price increase would exceed many people's expectations.

Cryptocurrency media Coin Telegraph reported, based on expert comments, that Bitcoin's next target price would be $150,000.

Coin Telegraph pointed out that Bitcoin's graph could face strong selling pressure around $113,800 according to the reverse head and shoulders pattern.

Kyle Reidhead, co-founder of cryptocurrency information platform Milk Road, said, "If buying pressure increases at $110,000, the next target would be $150,000."

Marcus Thielens from 10X Research emphasized, "There is a 60% chance that Bitcoin will rise more than 20% in the next two months."

Indeed, after setting a new all-time high in the morning, Bitcoin continued its upward trend, recording $117,217 around 2:20 PM and breaking its own record again.

Reporter Seung-won Kwon ksw@blockstreet.co.kr