The price of Bitcoin (BTC) has entered a new stage of lateralization, this time between 90,000 and just under 100,000 dollars.
At the moment, the digital currency created by Satoshi Nakamoto cannot break the 6-figure barrier (which is nothing special at a fundamental level, but which, due to market psychology, has become an important decision-making area. earnings).
As CriptoNoticias reported days ago, a huge sales wall just under $100,000. This means that many traders and investors placed sell orders on exchanges in that price zone.
Therefore, unless the demand for bitcoin exceeds the offer, bitcoin will hardly be able to break the $100,000 barrier and continue its upward path.
The following graph, provided by TradingViewallows you to see the price of bitcoin since November 1. There the new zone of lateralization in which the asset has “stuck” is evident.
Bitcoin price since November 1st. Source: TradingView.
It is worth clarifying that This behavior should not alarm any investor.. It is normal for financial assets—bitcoin, in this case—to have periods of downward correction or lateralization, even within an bullish macrotrend. This allows the rise to be more organic and not to reach overbought levelswhich could threaten the continuity of an upward cycle.
At the time of this publication, the Relative Strength Index (RSI) is not showing overbought, so BTC can be expected to continue rising in the near future.
Buying is coming for bitcoin
Although there are many investors taking profits, it is also true that the accumulation trend is beginning to increase. Many who maintain a long-term view are taking advantage of this zone of lateralization or declines in the price of bitcoin to buy BTC and increase their holdings.
Samson MowCanadian businessman who runs the company JAN3 and collaborates with the Salvadoran Government on issues related to bitcoin, think that This week bitcoin will reach $100,000.
For Mow, after touching $100,000, the price of BTC would quickly rise. He says that there will come a point where bitcoin “will start going up $10,000 a day or going down $10,000 a day.” Mow calls that “the God candle,” adding, “After that, we’ll start seeing Omega candles, which are daily increments of $100,000.”
It is worth clarifying that this is nothing more than an opinion of the businessman. In no way should it be taken as a certainty by any investor.
Anyway, what Mow says makes some sense. Once BTC breaks the $100,000 barrier, it will enter what is called the “exploration zone” or “unexplored territory.” This is a price area without previous support or resistance that conditions the rise. Bitcoin could have very high volatility both up and down after reaching and exceeding $100,000.
The specialists of the investment company, Multiplo Invest, they assure that even though BTC is close to all-time highs, it is still a good time to enter. This company points out in a report that – in its opinion – “the favorable regulatory environment and the recent drop in prices represents an excellent entry point for investors.”
AND When will bitcoin exceed $100,000, according to Multiplo Invest? For them, the next big BTC rise could take place during the end of the first quarter of 2025taking the price of the asset between 110,000 and 115,000 dollars.
Finally, something that can be done is to analyze historical patterns. If we go to the bullish cycle of 2020, we see that BTC spent 3 weeks lateralizing slightly below $20,000 (which was the all-time high reached in the previous cycle).
In November and December 2020, bitcoin spent three weeks lateralizing below $20,000. Source: TradingView.
If history repeats itself, then we could expect one more week of lateralization for bitcoin and then the big rally. That means that This year we could see new all-time highs for BTC.
Patience! What is a long-term career?
As can be seen, opinions on when bitcoin will break $100,000 are diverse. Will it be this week? Will it be in a week? Will we have to wait until next year?
Be that as it may, it is inevitable that the event will occur. The inherent scarcity of BTC seems to “predestine” it to reach much higher heights than those currently achieved.
Trading specialist Iván Paz Chain, in dialogue with CriptoNoticias commented that its projection is $140,000 per bitcoin in this bullish cycle.
Other analysts have reached similar conclusions. For example, the CryptoQuant on-chain data signature assures: “Bitcoin’s maximum price target is $146,000 based on realized price valuation.”
Pablo Gil, Spanish trader, gave a similar projection. He focuses on $142,000 per bitcoin as a cycle high, making projections linked to growth after each halving.
As in previous cycles, bitcoin price continues to show that short-term movements are nothing more than chapters within a larger narrative. Bitcoindesigned with a limited supply and increasingly scarce emission mechanism, rewards those who understand its dynamics and remain steadfast in the face of volatility.
The strategy of hodlwhich involves holding bitcoin long-term without selling it due to fluctuations, has proven to be one of the most effective for historical investors. Those who bought BTC in early stages and withstood dips and corrections have seen the asset’s price break records with each bull cycle.
This does not mean that dips or stages of lateralization are cause for concern. On the contrary, these are times when many investors take the opportunity to accumulate more BTC, trusting in its long-term potential. Patience and accumulation are key in this type of markets. After all, bitcoin is not just another asset: it is a global experiment in decentralized digital money, with fundamentals that transcend the swings of daily price.
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