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Despite the recent Bitcoin price crash, crypto analyst Trade shot has suggested that this is not the end of the road for the flagship crypto. This came as he revealed why BTC could still rise to $200,000 in this market cycle.
Bitcoin price will rise to $200,000 despite recent crash
In one TradeView postTradingShot predicted that the Bitcoin price could rise to $200,000 despite the recent market crash. The analyst noted that Bitcoin has started this new year with high volatility amid geopolitical conditions economic news input. He added that this year is the last year of this bull cycle.
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However, Bitcoin’s recent price crash does not mean the flagship crypto is close to its market peak, as TradingShot noted that the cycle top could start to form around November. He made this prediction based on historical trends, as the three previous peaks occurred in November or December.
The crypto analyst also noted that the last cycle summit formed above the Pi Cycle Top and on the LGC Zone from the top. In line with this, TradingShot predicted that the Bitcoin price could be close to $200,000 even if BTC barely tests the bottom for the LGC 2nd Zone from the Top in November 2025.
TradingShot added that the expected peak zone for the Bitcoin price should technically be between $180,000 and $200,000. He noted that this range may still be below the Pi cycle, so it seems like a reasonable scenario. Standard chartered also shared a similar prediction last year, stating that a rally to $200,000 by the end of 2025 is “achievable.” Meanwhile, Bernstein analysts described a forecast of $200,000 by the end of the year as a “conservative” estimate.
A price rebound could be on the cards
The Bitcoin price has had a terrible start to the year, falling to a low of $93,000. However, crypto analyst Ali Martinez has shared some positives that indicate a price rebound is imminent. In an
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This provides a bullish outlook for Bitcoin price as heavy whale accumulation typically precedes a price recovery. Meanwhile, Martinez said 63.92% of Binance traders going long now since BTC fell to a low of $93,000. These traders previously shorted BTC when the flagship crypto was trading above $100,000. With these traders going long, a recovery could be imminent.
At the time of writing, the Bitcoin price is trading around $93,000, down more than 2% in the past 24 hours. facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com