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.
Bitcoin has just hit a new all-time high of $119,376, and it's likely to reach $120,000 in the next day or two, as many have predicted. Meanwhile, many are also predicting Bitcoin will reach $130,000, with a possible correction after that. Of course, everyone holding Bitcoin is hoping for a further price rise to $130,000, and I'm optimistic that will happen soon.
The rise in Bitcoin price has also triggered a surge in the prices of other altcoins, but as usual, Bitcoin market capitalization still dominates the market, and an altcoin season doesn't appear imminent. Meanwhile, I don't think it's a good time to enter the market in this situation.