#Bitcoin has 2 roads and both lead to $150,000» A market analyst has reviewed several on-chain metrics and makes price projections for bitcoin in the current bull cycle.
Bitcoin (BTC) has been on a noticeable bullish trend since January 2023, which intensified in the last month. At the time of this publication, each unit of BTC is trading above $52,000, a price not seen since the end of 2021.
In this context, there are many who wonder things like: where will bitcoin go in the coming weeks and months? Will it surpass the all-time high price of almost $70,000? How far could I go?
Let's talk about Bitcoin's current growth: what's behind it and where it's going (in my opinion). The big players in the market bought and sold without a prescription for as little as $35,000. As for me, I am keeping an eye on it, waiting for it to rise to $38,000, whether with the correction or not. It seems that right now the retail market seems to be deflating unless some good news gives it a boost. Once Bitcoin reaches the $38,000 to $42,000 range, people could start looking for altcoins. I won't even try to predict when that will happen. The cryptocurrency market is very volatile and can be quite unpredictable. So for now it's a waiting game. I'm right? :) I would just like to remind you that the market does not evolve or change on its own: there are different players in it, each with their own objectives and tactics. 🧃
YOU SHOULD KNOW THIS IF YOU ARE A BEGINNER! When the bull market begins, investors who bought crypto assets when they were low in price become excited as their investment increases in value. However, these are people who have been able to steadily grow their cryptocurrency portfolio by knowing the right coins to add to make massive profits. Knowing how much the price went up or down can be really helpful when doing research. This could mean that there is demand for the coin, so it could still be priced well during the bear market 👍🏻