Bitcoin price takes a small dump to $96,000 before reclaiming the $98,000 range again.
Analysts explain that little dips between pumps are normal and healthy for the market.
One analyst preachers strength in the face of growing fear.
Bitcoin (BTC) price continues to hold steady just before hitting the $100,000 mark. In the last 24 hours, BTC price saw a short drawback to the $96,000 price level before jumping back up to the $98,000 price range where it was yesterday. Analysts are certain that the $100,00 target will be achieved despite the ongoing up-and-down momentum.
A Short Slump Between Bullish Pumps
In detail, one silver-tongued analyst had already predicted a short lazy time before the $100,000 target would be met. Specifically, he said that market makers will play the market to entice more trades to be set around the $100,000 price range before they allow the event to take place.
https://twitter.com/DrProfitCrypto/status/1860756315221496161 Is the Bull Run Over Already?
This slow momentum has led to growing fear within the crypto community. Although according to the Crypto Fear & Greed Index, the sentiment is still strongly in the ‘Extreme Greed’ zone with a score of 82 today. As we can see from the post above, the same analyst says that this is not the time to sell and that seasoned traders are still very greedy.
So far, multiple bullish predictions are in play for Bitcoin and the ongoing bullish achievements of Q4 continued to remain strong. Analysts expect the $100,000 target to be hit so fast that traders will be witnessing $106,000 ATH instead. With a major target of $150,000 set for the end of Q4, some await cycle target tops of $220,000 to $320,000 in 2025.
The post Bitcoin Experiences Short Slump Between Bullish Pumps, Analysts Speculate Arrival of Higher Targets appeared first on Crypto News Land.
