Bitcoin recently hit a new all-time high above $100,000, causing quite a stir. But then it dipped, making some investors nervous. Let’s look at what experts are saying about Bitcoin’s future.
A Quick Dip, Then Recovery
Bitcoin’s price surged to over $103,600, a massive 8% jump in a single day! This broke through the $100,000 barrier for the first time ever. However, it then dropped about 13% to around $90,000, wiping out about $1 billion in cryptocurrency investments. This was the biggest single-day drop in a while. But don’t worry, Bitcoin quickly bounced back above $97,000.
Key Support Levels and Future Predictions
Crypto analyst Ali Martinez identified a crucial support level around $96,870. He believes that as long as Bitcoin stays above this level, it’s likely to keep climbing. He even suggests that Bitcoin could hit $112,926 before a significant pullback. That’s a potential 13% increase!
Another analyst, Jelle, compared Bitcoin’s current price action to its move in late 2017. Back then, Bitcoin briefly surpassed $10,000, dipped, and then rallied significantly. Jelle thinks a similar pattern could play out now, potentially leading to a much higher price. He predicts a “true breakout” around Christmas.
Could Bitcoin Hit $130,000?
Jelle suggests that if Bitcoin follows the 2017 pattern, we could see it reach $130,000. The recent volatility, according to him, is completely normal for this stage of a bull run. The recent price action suggests Bitcoin is ready to break through the $100,000 barrier for good.
Currently, Bitcoin is trading slightly above $101,000, showing a healthy weekly increase. Whether it reaches $110,000, $130,000, or even higher remains to be seen, but the experts seem bullish.
