- Bitcoin set to hit lower targets as low as $60,000.
- Analysts expect BTC to set lower lowsand higher lows before moving towards new ATHs.
- The next major ATH targets are set for $109,000, $116,000, and $125,000.
A brutal start to April took the price of BTC from $830,000 to $75,000 in under 24 hours. This dip may have shaken out many weak hands and led to heavy crypto market liquidations leaving several traders devastated but season analysts remain bullish. Bitcoin set to hit lower targets say most seasoned analysts. Despite this, they are certain that BTC price will rally to hit much higher targets once lower targets are met.
Bitcoin Set to Hit Lower Targets
So far, this ongoing bull run has been a surprising one to those hoping to see history repeat itself. Until now, every bull cycle has remained mostly the same and analysts are constantly on the clock, hoping to find indicators and patterns that can help predict what will occur next in the volatile market of crypto. This cycle has been more surprising than the others and it is likely because Bitcoin may be deviating from its 4-year cycle pattern.
Once used as the ideal blueprint to predict crypto cycle highs and lows, the 4-year cycle may be going obsolete giving analysts the chance to test their technical analysis skills and find new ways to predict what is coming next for BTC. This year, Bitcoin price has been on the fence, while many analysts expected greater bullish ATHs, others expected a massive dip to targets closer to last cycle ATHs.
This outcome has now played out as Bitcoin price has fallen in a single shot from $83,000 to $75,000. What’s more concerning is that analysts have looked closely at the BTC price chart only to conclude that greater dips could be playing out. Based on the post above, this analyst believes that BTC could hit a lower target at the $72,000 to $73,000 price range, he also adds that BTC could fall as low as $60,000 as the worst-case low.
Lower Lows Before an Explosive Upturn for BTC?
Despite these low targets, the analyst remains bullish on Bitcoin (BTC) rallying once the low targets are met and says that no matter the low targets, the price of Bitcoin is set to hit a much higher target and set a new ATH at $125,000. Similarly, another analyst observes that Bitcoin usually tops out about 500 days after Bitcoin Halving and concludes that the ongoing bull market has a long way to go.
All in all, it looks like Bitcoin is going back to the basics as the analyst explains in the post above. The pioneer crypto asset seems to be setting up for a bullish upturn . According to this analyst, Bitcoin will make a pump of over 30% to hit new ATH targets once it begins to set higher lows before moving to an explosive rally.
