News View Non-AMP

Bitcoin’s Next Move: $118K Peak or 30% Crash Ahead?

Published by
Mustafa Mulla

Bitcoin, the world’s leading cryptocurrency, has been on a remarkable journey in 2024, surging more than 100% since the year began. Most of these gains have come in the last few months, pushing its market capitalization to an eye-popping $1.83 trillion. But after such a massive rise, many are asking: What’s next for Bitcoin?

With analysts forecasting two very different paths, it’s clear that the next moves for Bitcoin could be dramatic. Could we see a climb toward $118,000, or will Bitcoin face a painful drop of 20%-30% in the coming weeks?

Let’s explore.

Bitcoin Hits New Highs – But What’s Next?

Bitcoin (BTC) recently soared to an all-time high (ATH) of $93,207 before experiencing a slight pullback, stabilizing around $87,000. Meanwhile, the current surge can be attributed to two major factors. First, the recent U.S. presidential election result, which saw Republican candidate Donald Trump secure victory, has brought optimism to the market. 

Second, the Federal Reserve’s decision to cut interest rates by 25 basis points to a range of 4.50% to 4.75% has created a more favorable environment for assets like Bitcoin, attracting even more investors into the market.

Bitcoin Price Action Analysis – 2 Scenarios

Analysts have laid out two possible paths for Bitcoin’s future price movement:

  • Plan A: Bitcoin could continue its rally, rising another 10% to 20%, bringing the price to between $104,000 and $118,000. However, this rise would likely be followed by a correction of 20%-30%, which would bring Bitcoin back down to a more stable level.
  • Plan B: Bitcoin might stabilize at its current levels, with a modest rise toward recent highs before facing a 20%-30% correction. If this happens, Bitcoin’s price could fall to around $69,000 to $79,000.

Is a Correction Coming?

These two scenarios highlight potential volatility in Bitcoin’s price. One concern for traders is Bitcoin’s daily relative strength index (RSI), which is currently in overbought territory. When the RSI exceeds 70, it indicates strong buying momentum that might be running out, suggesting a possible pullback.

As Bitcoin continues its climb, traders and investors should stay alert to market signals. This makes for an exciting and unpredictable few months!

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Is Pi Coin Headed to Zero Amid Rug Pull Fears?

Pi Coin has dropped to an all-time low of $0.51, marking an 83% drop since…

April 4, 2025

Grayscale Submitted S-1 Form for Solana ETF, But Staking Is Off the Table

Grayscale, the leading cryptocurrency asset manager, has officially submitted an S-1 form to the U.S.…

April 4, 2025

Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1?

Story Highlights The price of Dogecoin today is . Dogecoin price may reach a maximum…

April 4, 2025

Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2?

Story Highlights The live price of the Cardano token is . ADA coin price could…

April 4, 2025

Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next?

Story Highlights Solana Price Today is . Solana price could reach a potential high of…

April 4, 2025

Still Under $0.03, MUTM Is Being Touted as One of the Best Low-Cost Cryptos to Buy Right Now

With crypto markets slowly regaining momentum in 2025, investors are on the lookout for promising…

April 4, 2025