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BTC hit a daily low at $62,302 and is now trading at $63,434, but the daily candle has not yet closed. This means we might see a deeper low in the coming hours. Things haven’t been going well in crypto for a few days, and concerns about rising tensions in the Middle East over the weekend are making investors cautious. So, what are the long-term predictions?
How Much Will Bitcoin Be Worth?
In the short term, there are always things that dampen morale. In November 2022, there were people who said BTC would fall to $12,000 and below, with their own justified reasons. However, BTC did not experience such a significant drop. Again, there were those who aimed for impressive peaks in the first half of this year, and they were also wrong. So, no one can see the future.
Mikybull’s BTC Price Prediction
According to analysts’ predictions, crypto analyst Mikybull wrote that the king of cryptocurrency will reach $120,000 for the first time in this bull cycle. It could even be more, and this possibility is not far-fetched for him.
“Bitcoin is preparing for the next rally wave that will take it to $120,000+. Fasten your seatbelts.”
Mags’ Bitcoin Price Prediction
One of the relatively cautious analysts, Mags, points to $100,000 as a potential peak. He is confident about $95,000 while making this prediction based on technical models.
“BTC is still trading within a descending broadening wedge formation. The price is consolidating near the upper resistance line, and a breakout could lead to a significant upward rally. The technical target for this formation is $95,700.”
Axel Adler’s BTC Prediction
CryptoQuant author Axel Adler did not make a price prediction but highlighted a new investor metric. While tracking the rising chart to identify the peak, you might also keep an eye on this.
“From the $57,000 level, the market gained 3% new investors – considering the metric increased by 4% after the FTX collapse, this is a lot. The main influx of newcomers will continue with the price increase and should exceed 50% at the peak of the cycle.”
So, it seems there is still a long way to go before reaching the peak.
