Major crypto analysts have weighed in on the Bitcoin future trajectory, especially because the flagship crypto has maintained a tepid price motion and has continued to consolidate for the reason that halving took place. These analysts predict that Bitcoin will soon rise and climb to a six-digit all-time high (ATH).
Bitcoin To Rise To $100,000
Crypto analyst CrediBULL Crypto predicted in an X (formerly Twitter) post that Bitcoin would rise to $100,000 on its next leg up. He claimed that this upward trend would begin in the following seven to 10 days, stating that BTC will “absolutely giga send” when that point comes. The analyst made these remarks 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 the halving, with the flagship crypto experiencing a 20% price drop. As such, he believes that BTC is unlikely to say no that much again from its current price level.
As an alternative, CrediBULL Crypto claimed that the downside is now limited to $60,000 and that, realistically, Bitcoin can’t drop below $62,000 and $63,000. Whatever happens, he expects the Bitcoin pump to start in the following ten days, which might send it to $100,000.
In one other X post, CrediBULL Crypto stated that things were looking good for Bitcoin. He suggested that the bears would get shaken out of their positions once Bitcoin clears the asks which can be above its current price level. He also noted that Bitcoin’s open interest is dropping a bit since the short positions are already beginning to cover, and the spot premium is returning for the primary time since May twentieth.
Source: X
Interestingly, CrediBULL had earlier predicted that Bitcoin would experience a price decline to $66,000. He had made this prediction as a part of an even bigger picture, which might send BTC’s price rallying above $71,000 following the worth correction. Seeing because the drop to $66,000 has occurred, CrediBULL suggested that it was time for the upward trend to start.
Source: X
BitcBTCoin Still Headed For $173,000
Crypto analyst Egrag Crypto has given a more bullish price for prediction, stating that the following goal for the flagship crypto is $173,000. He made this assertion while noting that Bitcoin’s current price motion is currently mirroring its price motion within the 2017 market cycle, consolidating around Fib 1.0 similar to it did back then.
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Source: X
He highlighted that Bitcoin had 4 monthly candles followed by an “explosive fifth one” back in 2017. In keeping with Egrag, the identical thing is occurring again, with Bitcoin already showing 4 monthly candles while consolidating around its previous ATH. As such, he believes the explosive fifth candle will are available in July, similar to in 2017.
BTC price recovers to $69,800 | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com