Up or down?
Please share your opinion.
I personally thought it might well dip to about 97.5K before the next leg up.
Why do you think?
Bitcoin has stayed below $100K for a very long time before it finally broke that zone and headed above $100K which also had the market go all up to $110K. About your question, I don’t think the market will dip to that price now. Correction may happen and we get to see the market trading almost close to $100K again but I don’t anticipate it going below $100K for now. It would be stopped by some support zone close to $100K which won’t allow it to break below $100K for another time. The peak of the bull run is why we’re aspiring for but will only happen seeing the support and resistance zone bitcoin will maintain for a period of time.
We have seen an upward trend in Bitcoin since the beginning of this year, but whenever the market starts a bullish movement, some negative news spreads, investors do not find confidence in the market, which is why the market moves from ATH to a slightly downward position again. The positive side is that the market is also moving towards ATH. This year, we have seen the price of Bitcoin above 100k most of the time and its trend can be said to be still upward, so there is a high possibility of getting a new ATH at any time. Bitcoin rose above 110k again in the last 24 hours.It was not sustainable, but the market conditions are still in a good position. I will definitely have positive expectations for the next movement.