Major crypto analysts have weighed in on the Future trajectory of Bitcoin, especially as the flagship crypto has maintained tepid price action and continued to consolidate since the halving occurred. These analysts predict that Bitcoin will soon rise and climb to a six-figure level all-time high (ATH).
Bitcoin rises to $100,000
Crypto analyst CrediBULL Crypto predicted in an X (formerly Twitter) after that Bitcoin would do that rise to $100,000 on its next leg up. He claimed that this uptrend would begin in the next seven to 10 days, stating that BTC will “absolutely do mega-shipments” when that time comes. The analyst made these comments while suggesting that the worst was over for Bitcoin.
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He alluded to the “brutal” price correction that Bitcoin underwent shortly before and after Bitcoin halve, with the flagship crypto experiencing a 20% price drop. As such, he believes that BTC is unlikely to drop that much again from its current price level.
Instead, CrediBULL Crypto claimed that the downside is now limited to $60,000 and that Bitcoin cannot realistically fall below $62,000 and $63,000. Whatever happens, he expects the Bitcoin pump to kick in in the next ten days send it to $100,000.
In another X post, CrediBULL Crypto stated that things were looking good for Bitcoin. He suggested that the bears would be shaken out of their positions once Bitcoin met demand above the current price level. He noticed that too Bitcoin’s open interest drops a bit as short positions are already starting to cover, and the spot premium returns for the first time since May 20.
Interestingly enough, CrediBULL did previously predicted that Bitcoin would experience a price drop to $66,000. He had made this prediction as part of a bigger picture, which would see the price of BTC rise above $71,000 after the price correction. Since the drop to $66,000 has taken place, CrediBULL suggested that it was time to start the uptrend.
BitcBTCoin is still trading at $173,000
Crypto analyst Egrag Crypto has given a more bullish price to forecasts, to report that the next target for the flagship crypto is $173,000. He made this claim, noting that Bitcoin’s current price action currently mirrors the price action in the United States Market cycle 2017consolidating around Fib 1.0, just like then.
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He highlighted that Bitcoin had four monthly candles, followed by an “explosive fifth” in 2017. According to Egrag, the same thing is happening again, with Bitcoin already showing four monthly candles as it consolidates around its level. previous ATH. That’s why he believes in the explosive fifth candle will come in Julyjust like in 2017.
Featured image created with Dall.E, chart from Tradingview.com