According to crypto analysts Bitcoin needs to recover above $106,000 to start a fresh upward trend because market participants cannot predict its next major price direction. According to CoinMarketCap data Bitcoin trades at $96,340 as market participants expect an upcoming price increase or decline.
The unverified trader Pentoshi predicts that if Bitcoin reaches $106,000 it will set off a fresh market analysis phase. If Bitcoin drops below its vital range boundary points at $92,000-$94,000, it will test $85,000 as its next line of defense. At this level the price last stood on November 12.
In a similar way as crypto analyst AlejandroBTC did earlier crypto analyst AlejandroBTC predicted Bitcoin may reach $85,000 mark. Investors maintain different perspectives on this point yet many suspect Bitcoin will maintain dropping action before starting to rise again.
Bitcoin May Surpass Previous Peak
BitMEX co-founder Arthur Hayes thinks Bitcoin may move back to an area between $70,000 and $75,000. According to Hayes he foresees a minor financial downturn launching when this happens. The market would experience greater ups and downs along with rapid sell-offs among traders who borrowed funds to build their positions. y
Even though the market provides risks some investors continue to believe BTC will endure. Mister Crypto shared with his X followers that he would enter a major position when BTC slips below $90,000 because he views this level as a suitable buying point. The chart structure for BTC remains good although trader Donny expects important market results within the next weeks.
On February 22 AshCrypto predicted that BTC would surpass its previous peak by March. He bases his prediction on CoinGlass research which reveals March has yielded investors 13.42% profits every year since 2013. The existing price trend indicates BTC wcill surpass $109,000 from Jan. 20 since this movement persisted.
Even though traders monitor daily price movements many leaders within the industry think about BTC development over the years. Since raising her forecasts last week ARK Invest’s CEO Cathie Wood now believes BTC price can hit $1.5 million before 2030 ends. Wood attributes this to the growing institutional adoption of BTC as a legitimate asset class, despite ongoing market fluctuations.
BTC needs to recover over the next weeks to establish if it can return to its previous $106,000 peak or lose value further. Investors and traders still predict both rising and falling BTC price movements because market trends remain difficult to forecast from their present state.
