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Bitcoin Forecast: $70K or $150K? Analysts Share Their Views

3 min read
Bitcoin Forecast: $70K or $150K? Analysts Share Their Views

Key Takeaways

  • 1 Bitcoin has been trading within a $5,000 range for eight consecutive days, with the market anticipating a breakout.
  • 2 Ted Pillous forecasts a rise to $98,000-$100,000 before the next downward move, warning of past sharp declines.
  • 3 Captain Faibik expects a bullish trend reversal soon, while Korinek_Trades targets $150,000.
  • 4 CryptoQuant and CryptoOnchain analysts see a possible correction to the $70,000–$72,000 zone, partly due to $1.4 billion BTC inflows to Binance.

Traders divided as Bitcoin trades in a $5,000 range for eight days. Some expect a correction to $70K, others predict a rise to $150K. Key analyst forecasts reviewed.

Traders are split into two camps: some are preparing for a significant correction, while others believe in a new rally. The leading cryptocurrency has been trading within a $5,000 range for eight consecutive days, and community discussions are intensifying amid expectations of a breakout. This article compiles key analyst opinions and the factors they cite as the basis for their forecasts.

Current Situation in the Bitcoin Market

Currently, two scenarios dominate discussions: a drop to lower liquidity levels or continued growth toward new targets. The trading community increasingly talks about a possible breakout from the range, with details on reasons and triggers analyzed, including why Bitcoin cannot hold above $90,000. Interpretations vary regarding technical indicators and coin flows to exchanges.

Analysts' Forecasts for Potential Bitcoin Growth

Cryptocurrency analyst Ted Pillous considers a rebound possible and writes about a "rise to the $98,000-$100,000 level before the next downward move" based on weekly chart analysis. He notes similarities between current bearish RSI divergences and the 2021 situation, emphasizing the importance of the interaction between the 100-week EMA and SMA for price dynamics.

Another trader, Captain Faibik, predicts an imminent bullish trend reversal, stating that "in the coming days, Bitcoin will break out, and then everyone will rush in with FOMO entries, which won't be profitable," calling the correction complete. The Korinek_Trades account offers a more ambitious forecast based on Elliott wave analysis, indicating that "the growth target is $150,000," while acknowledging the possibility of a significant drop before that.

Analysts' Forecasts for Potential Bitcoin Decline

The opposing camp is represented by the CryptoQuant platform and a related CryptoOnchain publication, which point to price vulnerability and consider a return to old highs around $70,000 as a likely scenario. The article notes that "the next major downside target lies in the high-demand zone between $70,000 and $72,000, where stronger buyer interest is expected."

Additionally, the authors highlight Bitcoin inflows to exchanges as a price pressure factor: "The combination of a technical breakdown below $90,000 and $1.4 billion worth of BTC inflows to Binance significantly increases the likelihood of a corrective move toward the $70,000–$72,000 demand zone." These observations are used as arguments supporting a possible correction.

Factors Influencing Bitcoin's Price

  • Weekly chart analysis and the Relative Strength Index (RSI) — traders use these to compare with previous cycles.
  • Elliott wave analysis — some forecasts rely on wave structure and anticipation of a fifth growth wave.
  • Bitcoin inflows to exchanges and large transfers — increased inflows are viewed as a factor adding selling pressure.

Why This Matters

If you mine in Russia and have from one to a thousand devices, any wide price movements and exchange activity affect your revenue when selling mined BTC and the timing of your selling decisions. High volatility increases the risk of forced sales at unfavorable moments, and coin inflows to exchanges can raise market pressure and reduce the window to sell at desired prices.

Even if your equipment remains operational, planning sales, accounting for electricity costs, and understanding market sentiment are simple steps that help reduce loss risks during sharp fluctuations. To gauge market sentiment, it’s useful to read analytics and reviews, including materials on why major traders are not buying, to understand potential pressure points.

What to Do?

  • Monitor key levels and coin flows to exchanges; consider inflows like the $1.4 billion to Binance when planning sales.
  • Set clear rules for selling portions of mined BTC (profit thresholds or stop-losses) to avoid emotional decisions during volatility spikes.
  • Compare mining profitability with current electricity and maintenance costs — during strong corrections, this helps decide on temporarily reducing load or selling some equipment.
  • Regularly update information from reliable channels and brief analyses to understand which scenarios dominate the market at the moment.

Frequently Asked Questions

What does the "$5,000 range" mean?

It refers to the current price range within which Bitcoin has been trading for eight consecutive days; such a period usually comes with increased expectations of a breakout.

How serious is the threat of a drop to $70,000?

Some analysts, including CryptoQuant and CryptoOnchain authors, consider a return to the $70,000–$72,000 zone a possible scenario, partly due to BTC inflows to exchanges and technical breakdowns.

Should miners sell now?

The decision depends on your expenses, goals, and risk management rules; the article provides practical steps for setting selling thresholds and considering exchange inflows.