Bulls aim to knock out Bitcoin’s all-time high before the US elections wrap up. Will altcoins follow?
Bitcoin (BTC) is facing resistance near $69,000, but the bulls have kept up the pressure. As the price nears the top of the range, the bears are likely to pose a strong challenge. However, analysts expect the range-bound action to end following the result of the upcoming United States elections.
Standard Chartered Bank analyst Geoff Kendrick said in a research note that Bitcoin could surge to $125,000 by the end of the year if the Republicans sweep the US Congress after the Nov. 5 elections.
Another bullish projection came from Bitwise’s head of alpha strategies, Jeff Park, who said in a post on X that Bitcoin could reach $92,000 if Donald Trump wins the US Presidential elections.
