Bitcoin’s price drop isn’t the end of the road, as an analyst shares a roadmap to $200,000

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This article is also available in Spanish.

Despite the recent crash in Bitcoin prices, cryptocurrency analyst TradingShot suggested that this is not the end of the road for the flagship cryptocurrency. This came as he revealed why BTC could still surge as high as $200,000 this market cycle.

Bitcoin price will rise to $200,000 despite the recent crash

In TradeView entryTradingShot predicted that despite the recent market crash, Bitcoin’s price could rise to $200,000. The analyst noted that Bitcoin started the fresh year with high volatility in the face of the geopolitical situation and economic news entry. He added that this year is the last year of this bull cycle.

However, Bitcoin’s recent price crash doesn’t mean the flagship cryptocurrency is anywhere near a market top, as TradingShot noted that bicycle mountain they may start to form around November. He made this prediction based on historical trends, as the three previous peaks occurred in November or December.

Source: TradingView

The cryptocurrency analyst also noted that last cycle apex formed above the apex of the Pi cycle and in the LGC zone from above. Accordingly, TradingShot predicted that Bitcoin price could be close to $200,000 even if BTC barely tests the bottom for the second LGC zone from the top by November 2025.

TradingShot added that technically, the expected high zone for Bitcoin price should be between $180,000 and $200,000. He noted that the range could still be below the Pi cycle, so this seems like a fair scenario. Standard chartered also shared a similar forecast last year, stating that an escalate to $200,000 by the end of 2025 is “achievable.” Meanwhile, Bernstein analysts described a forecast of $200,000 by the end of the year as “conservative.”

A price rebound may be observable

Bitcoin’s price had a terrible start to the year, falling as low as $93,000. However, a cryptocurrency analyst Ali Martinez shared some positives that suggest a price rebound may be imminent. In post X, a cryptocurrency analyst revealed that over 22,000 BTC worth $2.10 billion was withdrawn from exchanges over the past week.

Bitcoin price crash 2
Source: CryptoQuant

This represents a bullish outlook for Bitcoin’s price as gigantic whale accumulation usually precedes a price rebound. Meanwhile, Martinez mentioned that 63.92 percent Binance Traders they have been going on for a long time now since BTC dropped to just $93,000. These traders had previously shorted BTC when the price of the flagship cryptocurrency was above $100,000. Since these investors are currently long, a rebound may be imminent.

At the time of writing, Bitcoin is trading at around $93,000, down more than 2% in the last 24 hours, according to data from CoinMarketCap.

Bitcoin price chart from Tradingview.com
BTC price fails to recover | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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