Bitcoin has seen a record rise over the past two months, surpassing the $120,000 level in mid-July and recently peaking at $124,000, supported by ample liquidity from investment funds and institutions, along with supportive regulatory reforms in the United States such as Bitcoin being included in 401(k) retirement accounts.
According to experts like Katie Stockton from Fairlead Strategies, the formation of a chart pattern known as 'cup and handle' supports the continuation of bullish momentum, with an expected additional rise of about 14%, potentially reaching a price of $134,500.
Investopedia's analysis indicates that Bitcoin has broken through a previous downward ceiling, enhancing the chances of upward movement, with technical support at levels of $107,000–$100,000 potentially being attractive entry points at any correction.
On the other hand, a Citi report highlights that the rise of Bitcoin is contingent on the rate of adoption, especially through investment fund flows (ETFs), considering that these flows are the main driver of price in the short term.
Looking ahead to the coming months: Changelly expects Bitcoin to reach an average of $126,000 in September, with a range between $120,450 and $131,705, reflecting a potential return of about 11%.
As for November and December, forecasts estimate the continuation of momentum, with the price possibly reaching around $135,600 in December at maximum, compared to possible lows close to $101,200.
Based on this strong performance over the past two months and the technical and institutional foundations, as well as market operators' expectations of entering a new bullish phase in the coming two months, taking the initiative to enter Bitcoin trading now seems justified. However, it remains essential to manage risks well and be cautious of sharp volatility, and to have a clear plan for entry and exit.