Analysts Predict Bitcoin Surge to $135,000 Before Correction

Experts at Fairlead Strategies anticipate that the price of Bitcoin will rise to $135,000, followed by a correction. This was stated by the company’s founder, Katie Stockton, in an interview with CNBC.

At the time of writing, Bitcoin is trading at $118,300. Over the past 24 hours, the price of the digital asset has declined by 3%, according to CoinGecko.

The Fairlead Strategies forecast is based on the «measured move» projection method, a technical analysis approach that focuses on the magnitude of past price movements.

“The two-month consolidation preceding the recent breakout now feels like a distant memory. If the current trend persists until the correction phase, we could see Bitcoin reaching $135,000,” Stockton explained.

She also noted that the positive trend of the leading cryptocurrency is boosting the stock prices of companies such as Coinbase and Strategy, along with other assets. In the past week, both Ethereum and XRP experienced price increases of 16% and 25%, respectively.

Recall that on July 14, Bitcoin set a new record by surpassing $123,000. The asset’s market capitalization exceeded that of Canada’s GDP.

Previously, analysts from TD Cowen had predicted that the price of the digital asset could reach $155,000 by the end of the year.