Bitcoin breaks through $105,000: Is the next step a sustained rise or a crash? Experts express differing opinions
The price of Bitcoin hovers above $105,000, drawing significant attention from traders worldwide. The market has mixed opinions on the future trend of the king of cryptocurrencies. Bulls predict that Bitcoin could soar to $175,000 based on historical cycle data and war rebound patterns, while bears warn that whale sell-offs could drive the price down below $80,000.
Among the bulls, anonymous chart observer Egrag Crypto has bolstered market confidence, predicting a significant breakthrough for Bitcoin in the coming months. Historical cycle data indicates that Bitcoin is expected to surge by 102%, elevating its price from current levels to $175,000. Bitcoin's recent performance, free from geopolitical turmoil, further supports Egrag Crypto's bullish outlook.
However, not everyone is buying into this optimism. Experienced analyst Ali Martinez downplays the bullish sentiment, warning that the market may be on the brink of a significant correction if key levels cannot be held. Meanwhile, some whales are beginning to cut back on their Bitcoin positions, and the support near $100,000 is weakening. If this support collapses, Martinez predicts Bitcoin will drop to $78,500.
Cryptocurrency strategist Michaël van de Poppe expressed a similar viewpoint, noting that if BTC fails to hold above $106,000, it could trigger a waterfall decline in liquidity. He also predicts that the market has two directional choices: a buying opportunity below $100,000, or a new round of increases if the price holds around $102,500.
Market observer Axel Adler Jr. also weighed in, pointing out that BTC's OBV (On-Balance Volume) still hovers around $100,000. Therefore, he believes it is wise to cautiously hold long positions until BTC receives clear confirmation and maintains above $105,000.
In summary, Bitcoin's price fluctuates above $105,000, and the differing opinions of analysts have sparked intense discussions in the market about its future direction.
Whose opinion do you agree with? Do you think Bitcoin will continue to break through to $175,000, or is it likely to drop below $80,000? Share your views in the comments!