Bitcoin price predictions for the coming month suggest the potential for volatility. According to technical analysis, the price of Bitcoin is moving within a downward trend channel in the short term, which could lead to a price drop to $60,766. However, analysts believe this downward pattern may present an investment opportunity, as the upward trend remains technically intact in the medium and long term.
Bitcoin price forecasts:
- Short term: bearish, with the potential for the price to drop to $60,000.
- Medium term: bullish, with the potential for the price to rise to $80,000 by the end of the year.
- Long term: bullish, with the potential for the price to exceed $100,000 in the next five years.
Technical indicators:
- Ahr999 Index: indicates that the BTC range is currently in an unfavorable phase for investment.
- Bitcoin Rainbow Chart: indicates the potential for the price to rise in the long term to $150,000.
- Upper indicator of the PI cycle: indicates no short-term bubble.
Institutional forecasts:
- JP Morgan: anticipates a drop in Bitcoin's price to $45,000 due to overbought conditions.
- VanEck Fund: expects Bitcoin's price to rise above $69,000.
The current price of Bitcoin is $94,608.69, with a 1.35% increase over the past day.