Bitcoin price expected to accelerate if daily close above $113K is secured

Key Points

1. Bitcoin reached a new all-time high of $113,788 on Thursday, with analysts predicting further price increases.

2. Markus Thielen of 10x Research suggests a 60% probability of Bitcoin rising more than 20%.

3. Kyle Reidhead, co-founder of Milk Road, projects a target of $150,000 for Bitcoin.

4. A break above $112,000 could propel Bitcoin to $116,571, while a drop below $110,530 may signal profit-booking and a potential correction.

5. The 50-day simple moving average ($106,774) is a key support level; a break below it could accelerate a decline to $100,000.