Bitcoin to $60K or $140K? Traders at odds over where BTC price goes next
Bitcoin's price has fallen over 12.75% from its peak above $124,500, placing traders in two distinct camps. One group believes this is a standard correction in a bull market, while the other warns of a potential new bear market. Analysts noting that Bitcoin's current trajectory resembles a pattern from 2021 predict a possible decline to $60,000. This prediction is based on historical price movements that could replicate the drastic drop from $69,000 to around $32,000 in 2021. Contrarily, some traders view the dip as a healthy correction, suggesting that Bitcoin could rally back up to $140,000. They highlight the $104,000-$106,000 area as a significant support level that could provide a mid-term bottom. The overall sentiment remains divided, with some analysts confident that Bitcoin may rise further before peaking in the coming months. Investors are advised to conduct their own research due to the inherent risks in trading and investing in cryptocurrencies.
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