Analyst sets date when Bitcoin will trade at $160,000

Although Bitcoin ( BTC ) has corrected after hitting an all-time high above $125,000, an analyst has noted that technical indicators suggest there is still room for the asset to reach $160,000 in the coming ￰0￱ of press time, Bitcoin was trading at $124,874, up about 1.2% in the last 24 hours, and has rallied over 10% in the past ￰1￱ one-week price chart.). This setup indicates continued upward momentum, mirroring the bullish phase observed in August 2023 that led to significant price ￰2￱ analysis also highlighted Fibonacci extension levels as key markers for future price targets. Currently, the rally appears to be tracking the 2.0 Fibonacci extension, which has historically aligned with previous market ￰3￱ on this pattern, Bitcoin’s trajectory points toward the $160,000 level within the first quarter of 2026, around January.

Bitcoin’s potential $200,000 target Meanwhile, another outlook by pseudonymous cryptocurrency analyst Mikybull suggested that, in comparison to gold’s rally, Bitcoin has the potential to surge to $200,000. In an X post on October 6, the analyst suggested that Bitcoin’s ongoing market cycle is drawing parallels with gold’s historic rally in the ￰4￱ price analysis chart.