Bitcoin’s recent surge has led some analysts to speculate that it could drop below $90,000. Crypto analyst Rekt Capital has noted that Bitcoin has been closing below a one-week trendline, which could be a crucial resistance point. If Bitcoin closes above this trendline, it could push the price towards $100,000.
However, if it fails to break through this level, it could lead to another rejection. During a bull market, Bitcoin has never fallen below its mining cost, which currently stands at $90,524, indicating strong support. Despite the market chatter, Bitcoin is currently trading around $98,286.35 with a market cap of $1.95 trillion.
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<p>The post New Crypto Prediction: Bitcoin May Drop Below $90k Despite Bullish Momentum first appeared on CoinBuzzFeed.</p>
