Analyst says Bitcoin is heading towards $80,000

Looking at historical data, the popular cryptocurrency analyst said that the leading cryptocurrency is on its way to $80,000.

Guy Turner, the host of the YouTube channel Coin Bureau, claimed that Bitcoin will reach the ATH level in 2024, regardless of what decision the Securities and Exchange Commission (SEC) takes for the ETF.

"Bitcoin will reach an all-time high in 2024. We believe this will happen regardless of whether a spot Bitcoin ETF is approved or not. This is because Bitcoin has exceeded its ATH level in similar cycles before.
BTC surpassed its 2013 high of $1,000 in late 2016, reaching almost $20,000 in late 2017. It surpassed its 2017 high at the end of 2020 and rose to almost $70,000 in late 2021, its highest level of a cycle. It seems that 2024 will be similar to 2016 and 2020.
From a practical standpoint, this means that Bitcoin could rise above $80,000 by the end of 2024."

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If Turner's scenario comes true, it could mean that the leading crypto could reach a six-figure price in 2025.

"If this happens, it could herald a high cycle for Bitcoin in late 2025. We believe it could cost between $130,000 and $180,000."