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.
Before the Bitcoin halving it looked like maybe the Bitcoin market would go over $100k after the Bitcoin halving. But after the Bitcoin halving, Bitcoin tends to decrease rather than increase. Bitcoin is currently at 63 thousand dollars and from here Bitcoin can take two types of turning especially if the price increases then it can go to 100k dollars and if the price of Bitcoin decreases it can go down to 50 thousand dollars.
Prior to the Bitcoin halving, some investors were quite enthusiastic about investing in Bitcoin, investing in it for short-term profits. They are trying to change their attitude after Halving happened. Currently it is trading near privious ATH in the market but due to little volatility among the investors it is not possible to get expected results yet. It is not the case that the Bitcoin price will be bullish immediately after the halving. Look at Bitcoin history where Bitcoin has been bullish for quite some time after Halving.
Currently, according to our expectations, the Bitcoin price is more likely to reach 100K. But when there is a slight price correction, some investors' disbelief leads the market to fall further. As per current market conditions we have no risk of Bitcoin price going to 50k. Though anything can happen at any time.