Bitcoin (BTC) could surge to $155,000, but the price must stay above it
Bitcoin has been so resilient lately that experts are even predicting it could surge to $155,400! While it sounds a bit crazy, the market seems to have some news to back it up.
Cryptocurrency analyst Ali Martinez said that according to the Pi Cycle Top indicator, Bitcoin prices have the potential to hit a new high of $155,400, but there is a prerequisite, that is, Bitcoin prices must remain above $91,400.
At the same time, Bitcoin's current cumulative trend score is close to 1, which shows that long-term holders are confident in Bitcoin and that accumulation activity is strong. Analyst Ali believes that if Bitcoin can hold the price of $91,400, Bitcoin may continue to rise.
Since the end of January, nearly 100 new entities holding more than 1,000 Bitcoins have joined the Bitcoin network. With these institutional holders on board, and retail investors' fear of missing out (FOMO) surging, this could signal a turning point for the market.
According to NYDIG's weekly report, as global investors increasingly distrust traditional finance and banking systems, Bitcoin is regaining attention as a non-sovereign store of value. While this shift is still in the "trial phase," Bitcoin has begun to show its original vision of providing resilience amid uncertainty.
The report also noted that Bitcoin's performance has "subtly changed" in the past few weeks, with its performance no longer acting like leveraged U.S. stocks but more like a non-sovereign store of value. This suggests that Bitcoin's decoupling from traditional risk assets is continuing, and although it is still in its early stages, this trend is becoming increasingly evident.
Overall, Bitcoin's position in the market seems to be gradually consolidating. Investors are becoming more confident, which could be a positive sign for future gains.
Do you think Bitcoin can break through $155,000? Do you think Bitcoin has stabilized this time? Leave your opinion in the comments section!
