Bitcoin Price Dip to $70K Still Possible, but $90K Seen as a Strong Buy – Fundstrat
Bitcoin's current price of $90,000 presents a “good entry point” for long-term investors despite a potential drop to $70,000, says Fundstrat Capital CIO Tom Lee.
Bitcoin’s recent dip to $91,662 is “a normal correction” for a volatile asset, according to Lee.
While a short-term pullback to $70,000 or even $50,000 is possible, Lee predicts Bitcoin will be a top-performing asset of the year.
Inflation data on Jan. 15 and the Fed’s Jan. 29 rate decision are key upcoming catalysts.
Markus Thielen of 10x Research warns Bitcoin could test $69,000 if inflation-driven resistance levels are breached.
Analysts cite fears of Fed tightening, rising yields, and a strong dollar as contributors to recent price corrections.
Despite headwinds, asset managers VanEck and Bitwise forecast Bitcoin could hit $180,000 to $200,000 by year’s end, fueled by factors like a potential US Bitcoin reserve.
Bitcoin’s current rally, now at $94,650 (up 5.4% in 11 hours), signals resilience and reinforces its appeal for patient investors aiming to capitalize on long-term growth.
