Bitcoin Targets 112000 to 113000 as Bullish Factors Drive Surge

Bitcoin (BTC) is expected to surge from $108,000 to a range between $112,000 and $113,000, potentially setting a new all-time high (ATH) in the near future. This anticipated price movement is driven by several bullish factors currently influencing the cryptocurrency market.

As geopolitical tensions between Iran and Israel appear to be easing, the threat of war that previously weighed on the crypto market has diminished. This shift has allowed Bitcoin and other cryptocurrencies, such as Ethereum, to regain their bullish momentum. Bitcoin is currently on track to reclaim its previous ATH price of around $111,000, while Ethereum is targeting a price above $2,500.

Analysts are pointing to various indicators that suggest Bitcoin could soon surpass its previous ATH and establish new price targets. The immediate goal is for Bitcoin to reach and hold the $108,000 mark, with the potential to pump even higher. If Bitcoin can sustain this upward momentum, it could signal a much higher price peak in the near future.

Several bullish developments have been highlighted as contributing to this optimistic outlook. These include the Federal Housing Finance Agency's decision to recognize Bitcoin as an asset for mortgage purposes, the adoption of a Strategic Bitcoin Reserve by more public companies, and GameStop's recent fundraising of $450 million, which could be used to acquire more Bitcoin.

One analyst, known as Doctor Profit, has expressed confidence that Bitcoin's price will continue to rise, reaching the major liquidity zone between $112,000 and $113,000. He believes that once this level is hit, a new ATH will be established, potentially leading to further price increases towards the $120,000 to $125,000 range. Doctor Profit had previously predicted that Bitcoin would have reached a new ATH even last week if not for the geopolitical tensions.

In summary, the current bullish sentiment in the crypto market, coupled with several positive developments, has analysts predicting that Bitcoin's price will surge to new heights. The target range of $112,000 to $113,000 is seen as the next ATH, with the potential for further gains if the upward momentum continues.