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The cryptocurrency market continues to experience fluctuations, with Bitcoin (BTC) 
$104,922 currently priced at $97,770. While altcoins generally maintain their gains, weakness in Ether’s price has begun to affect market appetite. A well-known cryptocurrency analyst shared their predictions for BTC’s price movements on Monday.
What Will Be the Price of Bitcoin?
Crypto enthusiasts are worried about BTC returning to the $80,000 levels after reaching a peak of $99,500. Although a potential win for Trump and a Cabinet that favors crypto investors could be positive, if short-term outcomes have already been observed, a significant correction could occur.
However, Daan Crypto Trades indicated that due to Friday’s CME closing price being above current figures, they expect the price to rebound above $99,000. This situation, known as a CME GAP, typically results in the price gap being tested against the current spot price.
“Bitcoin slows down as altcoins move throughout the weekend. This is quite typical for both bull markets and price discovery phases. In 2021, BTC often stabilized on Saturdays while altcoins remained in the green. We anticipate a resurgence in speed when futures reopen.”
Altcoins and BTC
While Crypto Rover has consistently forecasted upward trends, there are now signs of a potential decline. Citing divergence in the RSI, the analyst suggests that BTC may experience a correction before reaching the $100,000 mark. If RSI continues to weaken, this could lead to a more profound short-term correction for BTC.
Nonetheless, the analyst known as Nicrypto believes that this phase is not well understood by most investors.
“Trump’s election has shifted the excessive pressure on Bitcoin so quickly that the market hasn’t fully absorbed how bullish this is. While the U.S. government considers accumulating, how can anyone still refer to this as a ‘scam’? How can any country justify a ban when a superpower sees it as a strategic hold?”
