The history appears to have repeated over time as September again seems to scare the entire crypto space. With the terrifying ninth month about to subside, and the fourth quarter of the year nears. A lot of expectations and predictions are prevailing in the crypto space. Despite a steep drop in the BTC price, yet the analyst believes the price still can hit $100K by the year-end.
Many speculations hover around the blood-bath in the crypto space, where the FED’s session with respect to the Stock market regulation might have a large impact. As still, the co-relation between the Stock and Bitcoin go hand in hand, the uncertainty in the stock market has been witnessed in the crypto space too.
On the other hand, the real-estate crisis in China may also have dragged the price and also the crackdown in the South Korean exchanges could have fueled the slump. However, popular investor and analyst, Lark Davis, expects the digital coin to hit $100k by the end of the year.
He expects the coin to repeat trajectories from 2013 and 2017. Where the digital coin rallied over 300% in the fourth quarter after a dreadful September.
Bitcoin Price Bounce May Be Underway!
Another analyst opines with a dip of about 30% to be evident but believes the dip to be a blessing in disguise. According to a popular analyst, il Capo of NOIA, despite the possibilities of assets visiting lower levels below $40K are high, yet the $100K target would remain unchanged. The price can still smash $100K in a coming couple of months if a notable bounce at these levels makes its way out.
As per the analyst, currently, BTC price is on its way to test the initial support zone in between $42K to $44K. If the asset fails to bounce back then the price could slump down to $38,000. Currently, the price failed to hold in these regions and hence a plunge below $40,000 appears imminent.
Apart from the bearish narrative, some analysts like Micheal van de Poppe, believe the Bitcoin price can range as high as $250K to $300K. However, it may further land to $60K as part of the bear market. BTC price at the press time is around $43,847 with a huge drop of 7.7%. With a fateful crash, the global market capitalization also slumped below $2 trillion. However, Bitcoin is growing its dominance day by day and hence a notable rebound could be on the corner.