Is Bitcoin ready to break back into the $70,000s? A lot of crypto analysts are weighing in on Bitcoin’s future, and there’s a lot of talk about whether it can break through $65,000 and even hit $71,500.
$65,000: The New Support Level?
One analyst, Rekt Capital, says Bitcoin needs to establish $65,000 as a support level before it can really climb higher. He’s looking for a similar kind of retest that happened in May to confirm this. If Bitcoin can hold above $65,000, then it could be ready to revisit its previous high above $70,000.
Reaching for $71,500
If Bitcoin can break through $70,000 and hit $71,500, it would be a big sign that the bull run is back on. This would also mean that Bitcoin would be surpassing its all-time high.
Different Scenarios for Bitcoin
Another analyst, Altcoin Sherpa, has outlined a few different scenarios for Bitcoin’s future. He thinks Bitcoin could either:
- Dump to $63,000 and bounce back
- Dump to $60,000 and bounce back
- Dump to $60,000 and then “die”
However, he’s most optimistic that Bitcoin will break through $65,000 without any pullback and climb to $70,000.
Bitcoin’s Future in the Latter Parts of the Cycle
Analyst Dann Crypto has some predictions for Bitcoin’s future, too. He thinks Bitcoin will see a rally heading into the US Presidential elections. He also thinks the launch of Spot Ethereum ETFs could accelerate this rally.
Dann Crypto expects the market to hit a local top sometime in the new year. He believes the final rally in this bull run will come in the latter half of 2025, as part of the 4-year cycle. He warns investors not to get fixated on a specific target price and to stay flexible.
