Popular trader and technical analyst Chris Vermeulen haspredicted that Bitcoin, one of the leading cryptocurrencies by market cap, could rally to as high as $135,000 in June.
According to Vermeulen, Bitcoin currently shows a very similar pattern compared to late 2024.
"The chart is primed and ready. We are long Bitcoin, and it is ready to have a big pop and move," he said.
Bitcoin is currently changing hands at $109,879, according to CoinGecko data.
The largest cryptocurrency is up by nearly 3% over the past week.
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Last week, Bitcoin reached its current all-time high of roughly $112,000 on the Bitstamp exchange.
The cryptocurrency has experienced a massive rally due to a massive increase in ETF inflows driven by strong institutional adoption.
Strategy and its various copycats keep purchasing more coins, contributing to the steady price growth.
As reported by U.Today, JPMorgan predicted that Bitcoin would be able to outperform gold in the second part of the year. Apart from institutional and corporate adoption, Bitcoin is expected to benefit from state-level strategic reserve bills.
Meanwhile, "Rich Dad Poor Dad" author Robert Kiyosaki believes that Bitcoin would be able to hit $250,000 this year.
Meanwhile, analysts at banking giant Standard Chartered continue to stand by their $200,000 Bitcoin price prediction.
