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The cryptocurrency world is perhaps experiencing one of its most volatile periods in history. A recent peak price of $73,700 was a historic high. Since then, the price has sharply retreated, trading around $67,000 at noon today. Now, however, the situation has taken on a completely different dimension. While all this is happening, analysts’ Bitcoin comments continue to follow one after another.
Analysts’ Bitcoin Commentary
While the cryptocurrency market continues its upward trend today, analysts are also continuing to make their predictions. Bitcoin (BTC), undoubtedly the market leader and the largest asset by value, was no exception to this situation.
Bitcoin’s price movement could surpass its previous all-time high (ATH) of $73,700 with a new surge and then move to a new all-time high that could reach $100,000.
In this process, according to an analysis by famous analyst CryptoJelleNL on March 25 (above), Bitcoin closed the past week above the $65,000 level, which is seen as a strong support, and started moving towards a new target of $100,000.
Potentially, if the cryptocurrency analyst’s prediction comes true, the Bitcoin price could move to the mentioned levels in the coming months, likely in July or August 2024, following the upcoming halving and the optimistic structure that could emerge in the market.
The analyst stated the following:
The name of the game continues to be patience.
Another cryptocurrency analyst, CryptoYoddha, shared a Bitcoin price analysis indicating that the “real price increase” for Bitcoin will start “next month after the halving.” He also shared a chart showing each halving cycle and projecting a move to $150,000 by 2025.
On the other hand, last week, spot Bitcoin exchange-traded funds (BTC ETFs) showed the largest weekly negative net flow since their inception, with over $800 million in Bitcoin outflows, while strategically trading whales took advantage of the ‘buy the dip’ opportunity over the weekend to support the upward momentum.
What is Bitcoin’s Current Price?
While all these predictions are being made, the price of Bitcoin at the time of writing was trading above $70,000 at a level of $70,365. This price level for Bitcoin emerged after a 7.72% increase over the last 24 hours.
On the other hand, Bitcoin’s market capitalization has risen back to $1.383 trillion, while the 24-hour trading volume has surpassed $41 billion after a 77% increase.
