Bitcoin is trying to break back above $90,000, but things could get bumpy. A big crypto summit at the White House is happening this Friday, and experts aren’t sure what to expect.
Friday’s Crypto Summit: A Rollercoaster Ride?
The crypto market has bounced back a bit this week, partly due to excitement about the upcoming White House summit. President Trump is hosting the event, and big names like Michael Saylor, Brian Armstrong (Coinbase CEO), and Vladimir Tenev (Robinhood CEO) will be there.
Bitcoin’s price has jumped about 9% since Tuesday, going from around $81,500 to over $90,000. But analysts are warning that Friday could be volatile.
Analyst Opinions: Cautious Optimism
One analyst, Altcoin Sherpa, says Bitcoin’s long-term chart isn’t very clear. He thinks holding the $89,000 support level is crucial. He expects the market to swing wildly on Friday, with prices potentially going up or down significantly.
Another trader, Daan Crypto Trades, agrees that the next few days are critical. While Bitcoin is struggling to stay above a certain price range, he sees the summit as a very positive sign for the future of crypto.
A Potential $140,000 Target?
Analyst Crypto Jelle is also optimistic, but cautions against getting too excited until we see what happens at the summit. A disappointing event could lead to another price drop. However, he points to a potential chart pattern (“Power of 3”) that could send Bitcoin to $140,000 if it holds above certain support levels. This pattern suggests a three-stage price cycle: accumulation, manipulation, and then a big breakout.
Currently, Bitcoin is trying to regain its post-November high. If it can stay above $90,000-$92,000, it could trigger this “Power of 3” scenario. If not, it might dip to around $87,500 before another attempt.
As of now, Bitcoin is trading slightly below $88,000. The next few days will be crucial to see if the summit boosts the market or causes a sell-off.
