Bitcoin's recent milestone of over $123,000 has generated significant excitement in the cryptocurrency market. Analyst Katie Stockton predicts the price could rise to $135,000.
Bitcoin Forecast
Katie Stockton, founder of Fairlead Strategies, stated on CNBC's "Closing Bell" that Bitcoin has shown resilient growth following a consolidation phase. According to technical analysis data, this increase may continue, with the price potentially reaching $135,000 after breaking the $108,300 resistance level.
Ethereum and Ripple Analysis
Stockton additionally noted that Ethereum has also broken above its 200-day moving average, signaling a positive outlook. Ripple has broken out of its triangle formation and continues to rise, indicating a positive technical outlook for the entire cryptocurrency market.
Cryptocurrency Stocks and Their Dynamics
Crypto-related stocks are also showing an upward trend. Coinbase shares have broken through the upper limit of their long-term "cup and handle" formation, while MicroStrategy shares experienced a short-term breakout. Stockton indicated that MicroStrategy particularly maintains its long-term upward trend despite its volatility.
The cryptocurrency market shows potential for growth; however, it is important to consider possible sharp price movements leading to prolonged periods of sideways action and waiting for investors.
