Bitcoin recently hit $100,000, and the crypto world is buzzing about what’s next. Many believe another big price jump is coming soon.
Targeting $115,000 and Beyond
One platform, IC News, predicts Bitcoin will easily surpass $100,000. Their analysis, using Fibonacci extensions, points to a potential 15% increase, reaching $115,000. They’re even more bullish, suggesting that if the Relative Strength Index (RSI) behaves as expected, Bitcoin could skyrocket to $124,500!
A Crypto Analyst’s Take
Crypto analyst Negentropic has a slightly different perspective. He sees the recent dip below $100,000 as a temporary setback. He believes Bitcoin is simply battling resistance around $98,500. Once that’s broken, he expects a quick climb to between $104,000 and $105,000. He emphasizes that strong spot buying is fueling this potential rebound.
Whales Are Holding: Less Selling Pressure
Another interesting factor is the significant decrease in Bitcoin held on exchanges. Data from CryptoQuant shows large investors are moving their Bitcoin off exchanges and into long-term storage. This reduction in supply available for selling could significantly reduce downward pressure on the price, potentially leading to a price surge due to increased demand./p>
