Experts believe Bitcoin has hit its lowest point after a recent price crash. Let’s look at what they’re saying about the future of BTC.
Bitcoin’s Price: The Bottom is In?
Analyst Master Ananda thinks Bitcoin’s price has bottomed out after its big drop below $80,000. He points to the recent price action as a key indicator. He considers the dip to around $78,300 (a 28% drop from its all-time high of $109,000) as the bottom. He sees this as a typical retracement after a strong price increase, a healthy consolidation period before further growth. He believes this pause is necessary for Bitcoin to build strength for long-term growth.
What’s Next for Bitcoin?
Ananda predicts daily price increases of around $500-$800 could be typical in the coming months. He even suggests Bitcoin could hit $200,000 next month! His advice? Buy and hold. He believes this is a great opportunity to buy low before the price rises significantly, as Bitcoin is currently in an accumulation phase.
More Bullish Predictions
Another analyst, Titan of Crypto, agrees that Bitcoin is regaining momentum. He points to technical indicators (like the Kijun and Tenkan lines) supporting a bullish outlook. A weekly close above $94,000 would strongly confirm this. He also dismisses any immediate bear market, believing a rally to over $200,000 is still possible before any significant downturn.
Current Bitcoin Price
At the time of writing, Bitcoin is trading around $92,000, showing a 5% increase in the last 24 hours.
