Bitcoin is on the verge of reaching a new all-time high, currently only $1,400 away from its previous peak. The cryptocurrency is experiencing a significant breakout from a prolonged downtrend, with analysts predicting a potential bull run. Bitcoin is just 1.68% away from a new all-time high, and some forecasts suggest it could hit $100,000 by January 2025, with $27,750 to go from its current price. This bullish sentiment is widely shared among market observers, with the price target for the current bull flag set at $120,000. Analysts from 10x Research are among those predicting this upward trend.