In recent days, Bitcoin's price has faced fluctuations after reaching a new high. We analyze the current situation in the market and the predictions for further changes.
Current Bitcoin Price
At the time of writing, Bitcoin is priced at $103,880, having dipped from a recent peak of $112,000. Despite this decline, analysts believe it does not indicate weakness but rather a natural correction process.
Analyst Predictions
Analyst known as Astronomer on platform X suggests that the current price level may mark the end of the dip before an expected rise. He believes Bitcoin is forming an accumulation zone before potentially reaching a target of $170,000 in the coming weeks.
Market Sentiment
Currently, the market exhibits fear, with bullish sentiments taking a backseat. Astronomer asserts that this market mood often precedes a major rally, predicting that Bitcoin might see over a 60% increase.
Therefore, although BTC is currently undergoing correction, experts predict significant growth in the coming weeks. If the current trend holds, Bitcoin might reach new heights.
