Bitcoin expected to rise to $110,000, but could fall below $40,000 first

According to crypto analysts Titan of Crypto and Elja Boom, the price of Bitcoin (BTC) is expected to reach $110,000 by 2025.Titan of Crypto notes that Bitcoin is forming a ‘cup and handle’ pattern, which is a bullish chart pattern suggesting that the price could rise in the future. price could rise in the future. Elja Boom, on the other hand, mentioned that BTC's ‘inverse head-and-shoulders’ pattern, once broken, will push the price above $100,000, which he expects to occur in the fourth quarter of 2024, with a possible $100,000 in the first quarter of 2025, while Elja Boom mentioned that BTC's ‘inverse head-and-shoulders’ pattern will push the price above $100,000 if broken. However, not all analysts are so optimistic. Analyst Magoo PhD warns that Bitcoin could pull back below $40,000 before a potential 2025 rally. Alternatively, analyst Moustace believes that even if there is a pullback, the bottom of the market will be around $57,000 or so. According to CoinGlass, Bitcoin currently has significant support at $57,000, and a drop below this level could lead to the liquidation of more than $860 million in leveraged short positions. Despite the uncertainty surrounding Bitcoin's price action, the market generally expects the price to break into six figures within the next few years.