Bitcoin's recent "ten thousand gap," can we really touch the 120,000 mark? Recently, Bitcoin in the crypto world has risen to a point that confuses people, soaring to $107,068 one moment, then dropping back to around $102,105 the next, ultimately stabilizing around $105,850.
However, I noticed an interesting phenomenon: Bitcoin is playing a game of "ten thousand ladder jumps"! Jumping from 75,000 to 85,000, then to 95,000, and 105,000, each time it rises by $10,000, it takes a break and consolidates for seven to eight days.
This isn't a surge; it's clearly giving retail investors and institutions a chance to get on board! For us traders, each consolidation is a great buying point; once a new support level is formed, buying funds surge in.
At this pace, $115,000 is probably just around the corner. Even more exaggerated is that some analysts calculated using the "golden ratio multiplier" model that Bitcoin could reach $160,000 in this bull market.
Although historical data does have reference value, the market is ever-changing, with the Federal Reserve raising interest rates and global regulatory policies able to disrupt things at any time. This target is just for observation; taking it too seriously could lead to losses.
In my opinion, Bitcoin is transforming from a "crazy youth" into a "steady uncle." Analyst Willy Woo is right; the days of doubling in value like in 2017 are gone for good. With institutions entering the market in large numbers, a stable annual growth rate of around 8% for Bitcoin is the norm.
Don't dismiss this number as low; in the global investment market, very few assets can consistently outperform it over the long term. However, that said, there are no guarantees in the crypto world; no matter how good the market conditions, you must control your positions and protect your capital, as that's the way to go.
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