Chief cryptocurrency analysts they dared to Bitcoin’s future trajectory, especially as the flagship cryptocurrency maintained its lukewarm price action and continued consolidation since the halving. These analysts predict that Bitcoin will soon surge and reach six-digit levels highest level ever (ATH).
Bitcoin will rise to $100,000
CrediBULL Crypto cryptocurrency analyst predicted in X (formerly Twitter) post that Bitcoin would do it augment to $100,000 on the next dais. He claimed that this upward trend will begin in the next seven to ten days, stating that BTC will “absolutely send a gig” when that time comes. The analyst made these comments suggesting that the worst is over for Bitcoin.
He referred to the “brutal” price correction that Bitcoin underwent shortly before and after halving, and the price of the flagship cryptocurrency dropped by 20%. As such, he believes it is unlikely that BTC will drop that much again from its current price level.
Instead, CrediBULL Crypto stated that the downside is currently capped at $60,000 and realistically, Bitcoin cannot fall below $62,000 and $63,000. Whatever happens, the Bitcoin pump is expected to kick in within the next ten days send it for $100,000.
In another post on X, CrediBULL Crypto stated that things are looking good for Bitcoin. He suggested that bears will unwind from their positions when Bitcoin clears queries above its current price level. He noticed that too Open interest in Bitcoin declines slightly as low positions are already starting to overlap and the spot premium returns for the first time since May 20.
Interestingly, CrediBULL had previously predicted that the price of Bitcoin will drop to $66,000. He made this prediction as part of a broader picture that, upon price correction, will push BTC’s price above $71,000. Seeing that there was a drop to $66,000, CrediBULL suggested that it was time to start an uptrend.
BitcBTCoin continues to head towards $173,000
Cryptocurrency analyst Egrag Crypto gave a more bullish forecast price, stating that the next target for the flagship cryptocurrency is $173,000. He stated this while noting that Bitcoin’s current price action currently reflects its price action in the market Market cycle 2017consolidating around Fib 1.0 as it did back then.
He highlighted that in 2017, Bitcoin had four monthly candles, followed by an “explosive fifth candle.” According to Egrag, the same thing is happening again, and Bitcoin is already showing four monthly candles, consolidating around its own previous ATH. That’s why he believes in an explosive fifth candle will arrive in Julyjust like in 2017.
Featured image created with Dall.E, chart from Tradingview.com
