It's amazing that Bitcoin hit an new ATH of $118k, which got everyone excited, but I wasn't surprised. Bitcoin's new all time high had been long awaited, but for various reasons, the ATH seemed hard to achiev. But then all doubts were answered in July. A little encouragement might make bitcoin hit $120k, but I think the market will need a little time before $120k is touched.
I'm looking forward to hitting $120k early new week when everyone is back to work. There are two possible outcomes, if $120k fails, the correction or sideways movement could result, meaning Bitcoin won't stabilize above $117k.
Well, the price has been hovering near $118K, which is the ATH over the last couple of days, although with bitcoin that's too early to say it has stabilized at that level. I would think it will go up next week. On weekends it is normal for there to be less buying but I think all indications are that we are at the start of the bull market for real.