In a recent analysis, Ledn’s John Glover discussed his price expectations for Bitcoin as it approaches significant resistance at $100,000. Glover applied the Elliott Wave Theory in his evaluation and identified $125,000 as a potential target if Bitcoin successfully breaches the $100,000 mark. He noted, however, that it is possible that Bitcoin may have peaked for the year, predicting a drop to between $75,000 and $80,000 before a possible rally in the next year. Glover also mentioned an alternate scenario where Bitcoin could rise to $160,000 if it quickly surpasses $100,000. Regardless, he anticipates a wave of profit-taking following recent price surges. Glover concluded that any subsequent correction would not drastically lower Bitcoin, suggesting potential corrections to $115,000 or $95,000, depending on the peak.

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