In last two week we have seen a fluctuation in the price of Bitcoin as at one point it looked like it will drop to $50k but quickly it rebounded back and crossed $71k once again and now it just under $70k. What do you think would be the next zone, will Bitcoin rally towards the long awaited $100k mark or dip towards $50k? I know no one can speculate or predict it accurately but just share your thoughts with any valid reasons behind it.
Bitcoin has been ranging between $63K and I don’t see a major change in the market coming any moment from now. The market has been experiencing a lot of volatility lately but it doesn’t make bitcoin to make a major pump or a bullish trend. The last move to more than $70K was a long predicted one and it happened quickly and immediately came back to its support zone. Since before the halving, I have come across many speculations that bitcoin will dip down to $50K, but after the halving and how the market has been performing since then, I don’t see a major dip below the support zones now but a gradual movement above the $70K resistance to breakthrough it and continue in that direction is what I foresee in the market now.