Bitcoin (BTC) Rally to $100,000 Has Prompted a Handful of Bitcoin Proponents to Share Their Bullish Price Predictions

Bitcoin's rally to $100,000 has prompted a handful of Bitcoin proponents to share their bullish price predictions. In January and February

Bitcoin (BTC) price has sparked a buzz among crypto enthusiasts as it continues to hover above the $100,000 mark. The cryptocurrency's recent journey has unfolded rapidly, with a brief touch of $100,000 in January and February before testing and bouncing off previous support at $48,000.

However, since hitting $103,969 on May 8, Bitcoin has successfully sustained momentum above the $100,000 price level for 13 days, according to data from CoinMarketCap.

As the cryptocurrency navigates this uncharted territory, key players have begun to share their price forecasts, ranging from mildly optimistic to significantly bullish.

Very recently, Analyst Willy Woo took to X to highlight his expectations for Bitcoin in the near term. According to the analyst, Bitcoin’s hitting a new all-time high is crucial for the asset to cross the $110,000 price mark and settle closer to the $120,000 price level.

“Once BTC properly breaks all-time highs, the move to 118k will be very fast.” He wrote.

The analyst supported his prediction in a follow-up post, explaining that Bitcoin experienced a structural flip in the latter part of April. As a result, capital inflows made a massive entrance into the Bitcoin market.

“BTC is setting up for another break of all-time highs if the capital flow trend continues. It’s a solid long-term setup.” Woo asserted.

It bears mentioning that Bitcoin has attained a new all-time high after bulls successfully pushed the asset to $109,767 today, before it retreated to $108,878. The bulls appear to have the upper hand as buying pressure has notably surged over the past few days. Bitcoin most notably secured more than 24% and 5% in gains over the last 30 days and 7 days, respectively.

With the new development in play, market participants are more bullish than ever for the near term. It remains to be seen how the bulls perform in the coming days.