Bitcoin Experiences Its Largest Weekend Drop Since U.S. Elections

Bitcoin saw its steepest two-day decline over the weekend since the U.S. elections, reflecting caution in global markets. Traders are evaluating the potential impact of President-elect Donald Trump’s policies on markets. Cryptocurrencies fell by about 3% on Saturday and Sunday but recovered some losses, trading near $92,000 on Monday, up nearly 1% in the last 24 hours. This comes amid uncertainty about how soon Trump might fulfill promises related to cryptocurrencies, such as creating a U.S. Bitcoin reserve and the feasibility of such plans.

Bitcoin Price Could Exceed $200,000

Although Bitcoin (BTC) remains below six figures, a research firm predicts its price could more than double from its current $90,000. According to a BCA Research report, Bitcoin’s ultimate target could surpass $200,000. This projection is based on the “260-day fractal dimension complexity,” a measure of price pattern changes. The indicator, currently well above 1.20, suggests a bullish trend, as drops below this threshold typically signal market peaks. The report suggests that prices may cross $200,000 as this indicator declines.

About the Fractal Dimension

The “fractal dimension” analyzes recurring patterns observed in nature and mathematics, applied here to financial markets. By studying patterns in Bitcoin’s price over 260 days, analysts identify trends and make forecasts.