A year ago, the crypto market was in crisis. Bitcoin (BTC) plummeted to around $16,000 following the dramatic collapse of the FTX exchange, causing widespread panic. Now, the future of cryptocurrency looks much brighter, with BTC recently hitting a new all-time high (ATH). Several analysts suggest this is just the beginning, and we can expect more spectacular developments in the coming year.
BTC Poised for a Massive Price Surge
Crypto analyst TechDev reported on X that the crypto market has just started its first macro bullish expansion in three and a half years. He bases this prediction on a bi-weekly chart of total crypto market capitalization, reminiscent of the period in 2020, just before the 2021 bull market.
TechDev argues that many projects have undergone a healthy consolidation phase and are ready for a parabolic rise. He refers to a ‘macro bullish expansion,’ indicating that cryptocurrencies are on the verge of reaching new heights.
Bitcoin Heading Towards $90,000
Another analyst, known on X as Mikybull Crypto, supports TechDev's view. He presents a Bitcoin chart suggesting the digital currency is ready for another surge. Mikybull Crypto predicts a BTC price of $90,000, which would represent an increase of nearly 37% from its current value.
A Different Perspective
Renowned analyst Rekt Capital offers a contrasting view, suggesting that Bitcoin shows signs of forming a new local top. This implies that the recent rise may not be a continuation of the bull run.
Rekt Capital expects Bitcoin to likely consolidate between $60,000 and $70,000. He notes that a breakout has not yet occurred, as the $70,000 resistance level was rejected.
