The cryptocurrency market is gaining strength after month-long speculations, assumptions, and the most bearish predictions. While my external factors attempted at their best to drag the price beneath the demand area, Bitcoin superseded all the odds to clinch one of the most important resistance at $42K. Currently heading strongly towards the $45,000, BTC price is showcasing its capability and tendency to roar not only above $46,000 but to hit $50,000 at the earliest.
What’s Next For Bitcoin (BTC) Price ?
Histories are there to be repeated and challenged as on time. Bitcoin price is on the verge to mirror a previous trend that uplifted the price by 100% previously in 100 days. And if a similar trend repeats, then the BTC price may hit $77,000 or $80,000 in mid of Q2 2022. However, considering the Q1 rally, the price appears to be primed for a 50% jump that may uplift the price above $60,000 before the end of Q1 2022!
Bitcoin has behaved in a similar way previously when it got exhausted after smashing the first ATH in 2021 at around $64,000. The price ranged high along with the 50-day MA and with the beginning of the correction, the asset slipped below the MA levels and plunged nearly 48%.
However, after consolidating around the bottom levels for nearly a month, Bitcoin geared up with huge bullish momentum and ranged high slicing through the 50-day MA levels again.
With the jump, the asset roared gaining more than 96% and formed a new ATH at $69,000, and yet again retested the 50-day MA levels and slipped down. It is to be noted that the asset took almost the same time to regain these levels as it took previously and hence a similar outcome is expected.
As BTC price rallied 100% in the next 100days, the current uptrend is expected to continue for the next 3 months which may form a new ATH around $80,000.
Collectively, the star crypto has let out huge bullish signals, and hence a drastic jump may be primed in the present quarter. Hence with a strong foundation laid in Q1, Bitcoin may continue the trend in Q2 as it did in 2021. However, the next 2 quarters are currently skeptical which may result in a similar way as the previous year.