The analysis of Bitcoin's state reveals various opinions among analysts. Recently, the price surged to a record $112,000, yet the swift correction has cast doubt on the forecasts for reaching $150,000 by the end of 2025.
Current Bitcoin Trends
Bitcoin reached a remarkable price of $112,000 but rapidly corrected below $105,000. This has raised concerns about a bullish market. Currently, there is a probability of forming a bearish pattern that may threaten further growth.
Bearish Patterns and Potential Drops
An inverse cup-and-handle pattern is forming on the current chart, with support around $100,800. If the price drops below this level, Bitcoin may likely fall to $91,000. Furthermore, there is a possibility of a 52% drop to $64,000, reminiscent of similar scenarios in the past.
Pessimistic and Optimistic Forecasts
Some analysts, such as Peter Brandt, predict the possibility of the bullish cycle ending if Bitcoin is unable to reclaim its parabolic trendline. Meanwhile, other experts remain hopeful for a rise to $150,000, comparing it with gold's historical breakouts in the 2000s.
The state of the Bitcoin market remains uncertain, and while there are those who hope for price growth, current technical indicators raise significant concerns about possible declines.
