Analysts predict a significant rise in Bitcoin's price, citing current dynamics and technical formations that might attract investors. Experts point out the possibility of reaching $122,000 soon.
Bitcoin's Uptrend
On January 21, Bitcoin traded at $105,727, based on CoinMarketCap data, after bouncing from $98,937 to above $107,000. This increase is viewed as a low-risk, high-reward opportunity. Analysts associate this with new trends following the introduction of ETFs in the US.
Entry Points and Technical Levels
Markus Thielen of 10x Research mentioned that $98,000 could serve as a stop-loss, minimizing risks. BTC might reach $122,000 by February, following a pattern of 16,000-18,000 step increases. Keith Alan from Material Indicators also predicts similar targets based on the 'cup-and-handle' pattern in Bitcoin's weekly chart.
Expert Opinions and Cryptocurrency Future
Bitfinex analysts confirmed skepticism towards the stock market and are confident in Bitcoin's strong position. Its current reprofiling after resistance testing at $101,000 creates favorable conditions for long-term investments despite some short-term volatility.
Analysts' forecasts indicate the potential for Bitcoin's strong position in the future. Technical analyses and the current market situation confirm the possibility of price stabilization at high levels, attracting traders' and long-term investors' attention.
