Crypto experts predict possible movement of Bitcoin on upcoming times

Bitcoin's price prediction:

Crypto experts shared muliple opinion about BTC, long term vs short term

 

Bitcoin’s price has been moving within a narrow range after falling below the $100,000 mark on February 4. Since then, it has been fluctuating between $94,000 and $100,000 without a clear trend. Investors and traders are closely watching the market to see if Bitcoin will break out of this consolidation phase or continue moving sideways.

Crypto analyst Ali Martinez has pointed out that Bitcoin’s price recently dropped to $93,000 before recovering above $95,000. However, he warned that Bitcoin faces a significant resistance level at $97,000, where 1.88 million BTC are being held. Meanwhile, the support level at $94,500 has only 695,000 BTC backing it. This imbalance suggests that there is more selling pressure than buying demand, increasing the chances of Bitcoin declining further before seeing a potential rise.

Martinez also noted that a drop in Bitcoin’s mining activity has historically led to longer price corrections. This means that Bitcoin could still experience a further decline before it starts another upward trend. When mining activity decreases, it often signals that miners are not as confident in immediate price gains, which can slow down any potential recovery.

Despite these short-term concerns, another crypto analyst, Titan of Crypto, believes that Bitcoin’s long-term trend remains positive. He mentioned that Bitcoin is still in a consolidation phase, meaning it is not showing a clear short-term direction. As long as the price stays within this range, there is no strong signal of an immediate breakout or breakdown.

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Martinez also shared that the market is currently in the ‘depression’ stage of the cycle, which typically comes before a final push upward. According to market psychology, after this stage, Bitcoin may enter the ‘disbelief’ phase, where prices rise unexpectedly in what is often called a ‘sucker’s rally.’ This means that while Bitcoin’s price may still see short-term drops, a larger recovery could be on the horizon.