Bitcoin recently bounced off the $110,000 mark, sending a clear signal that bears (those betting against Bitcoin) are currently in control. This sharp rejection has some worried about a drop below $100,000, potentially triggering a wider market downturn.
Is the Dip Part of the Plan?
While the sudden price drop has caused panic among some investors, one analyst suggests this pullback is actually part of a larger, long-term strategy. They argue Bitcoin is currently undergoing a significant distribution phase, where ownership is shifting from long-term holders to new investors at higher prices. This is a normal process, and the analyst views the correction as a healthy consolidation before the next big price surge. They believe this accumulation phase is crucial for fueling the next bullish wave. Increased trading volume will likely precede a price increase.
A Potential $130,000 (or More!) Future?
According to the analyst’s chart, the current correction shouldn’t last long. Holding the $107,000 support level is key. If this holds, the next bullish push could send Bitcoin as high as $130,000—a more than 20% jump from current levels. The analyst even suggests a potential swing target of $150,000! While the analyst’s long-term target is the end of 2025, they acknowledge the possibility of reaching these targets much sooner.
