Short-Term Bitcoin Price Prediction: The Breakthrough Above 100,000 USD
As Bitcoin continues to hover around the 100,000 USD mark, experts are vigorously debating the potential peak price that could be reached in this cycle. Hadley Stern – an expert from Marinade Finance – recently shared his personal viewpoint, expressing frustration over excessive speculation about the 100K mark, and believes that Bitcoin needs to sustainably break through this threshold.
On the Milkroad podcast, Stern predicts that Bitcoin could rise to 160,000 USD in this cycle before adjusting and stabilizing around the 120,000 USD range. While some other predictions suggest figures from 150K to 250K, and even some extreme opinions up to 500K or 1 million USD, Stern believes that the 160,000 USD price is reasonable and feasible.
"160,000 USD would be a great peak for this cycle," Stern emphasizes, analyzing that market sentiment often gets stuck at symbolic price thresholds, similar to the previous 10,000 USD mark.
Buying Pressure From Institutions – Leverage Drives Prices
The increasing strong involvement of financial institutions, especially through Bitcoin ETF funds and large buyers like MicroStrategy, creates solid demand. Currently, about 6% of the total Bitcoin supply is held by ETF funds, contributing to pushing prices to new heights.
Stern acknowledges that there are always surprising factors in the market and some traders expect prices above 200,000 USD; however, he still maintains a balanced outlook with a figure of 160,000 USD.
Short-Term Bitcoin Price Trends
Bitcoin is trading steadily within a fixed price range, showing no significant volatility in recent days. This cryptocurrency is still moving within an upward trend channel, with the upper bound of the channel currently acting as an important resistance.
Currently, Bitcoin is holding above 107,900 USD. If it breaks above, this leading cryptocurrency could challenge the 130,000 USD price range in the current cycle. However, investors should prepare for the possibility of a price drop to the support range of 100,000 to 104,000 USD in the upcoming sessions. Maintaining this support will be a positive signal for a new growth phase.
A deeper drop to around 91,000 – 95,000 USD is still possible but not the dominant scenario, if Bitcoin maintains its current price range.
By understanding technical thresholds and in-depth insights into institutional demand, investors can optimize their trading strategies and prepare for the next waves in the unpredictable cryptocurrency market.
Source: https://tintucbitcoin.com/chuyen-gia-du-bao-tien-dien-tu-160k-usd/
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