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Bitcoin Set to Hit Lower Targets, Analysts Remain Certain a BTC Price Recovery to $125,000 Is Underway
A brutal start to April has seen the price of Bitcoin plummet from $83,000 to $75,000 in under 24 hours. Despite this massive dip, analysts remain resolute that the price of BTC will ultimately recover and hit new all-time highs (ATHs) at an astonishing $125,000.
According to leading analysts, it’s likely that Bitcoin will set lower targets before embarking on a bullish upturn. This means that the cryptocurrency may see dips as low as $60,000 or even $72,000 to $73,000 before reversing course and making a significant move upwards.
In light of this, an uptrend is still in effect, with recent highs being set at higher levels than previously seen. The ongoing bull market has been marked by the establishment of new higher lows, which may not be over yet.
A notable analyst has observed that Bitcoin usually tops out approximately 500 days after Bitcoin Halving and concludes that the ongoing bull market still has a long way to go before it’s exhausted.
Source: https://cryptonewsland.com/bitcoin-set-to-hit-lower-targets/
