$300K Bitcoin target ‘becoming increasingly likely,’ analyst says

Analysts suggest that Bitcoin has a target range of $150,000 to $300,000, with a potential rally ignited by a decisive push above the $112,000-$114,000 zone. Recent fluctuations saw Bitcoin drop to $108,000, but some argue the bull market has yet to commence, drawing parallels to gold's upward trends. Bitcoin is expected to follow gold’s patterns with a possible spike in prices occurring in October or November. Key levels for Bitcoin bulls are observed at $112,000 and $114,000, with over $612 million in liquidity positioned at these levels. A break above $114,000 could indicate the end of recent corrections and pave the way for significant price increases toward $140,000. Additionally, BTC's performance relative to gold could lead to $300,000 becoming increasingly likely, as historical trends show Bitcoin typically outperforms gold gains significantly.

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