As a seasoned crypto investor with a decade of experience under my belt, I find myself intrigued by the recent predictions surrounding Bitcoin’s price trajectory. Analyst Gert van Lagen’s warning of potential psychological resistance at $100,000 is a reminder that even in the world of cryptocurrencies, there are psychological barriers to be overcome.
Although many anticipate Bitcoin to reach a value of $100,000, a cryptocurrency expert predicts that this significant milestone might encounter psychological obstacles for the original digital currency. Meanwhile, as Bitcoin’s price continues to climb towards this mysterious $100,000 level, it has become a major point of focus within the crypto community.
$100,000 Bitcoin Price As A Psychological Resistance
Crypto expert Gert van Lagen shared on his platform (previously Twitter) that he believes Bitcoin’s price is nearing its all-time high of $100,000, which would be a significant milestone similar to its earlier jumps from $10, $100, and $10,000. This prediction was made to his 108,000 followers.
As per Lagen’s analysis, reaching $100,000 might create a mental barrier for Bitcoin, possibly causing brief price fluctuations in the short term. This theoretical obstacle may momentarily halt Bitcoin’s upward trend beyond $100,000.
Lagen’s warning about a potential bearish trend was accompanied by a positive outlook for Bitcoin, suggesting that it might rise to a range of $220,000 to $320,000 before a global economic downturn occurs. This forecast could be favorable for Bitcoin if its bullish trend persists, but the analyst cautions that the timeframe for reaching these highs may be rather short.
To prepare for the anticipated psychological threshold in Bitcoin’s value, Lagen suggests crypto investors consider selling their BTC when it reaches $100,000. By adopting this approach, traders would be wagering on a potential price adjustment in Bitcoin prior to any substantial upward breakthrough.
As Bitcoin inches closer to reaching $100,000, the risks are escalating, with experts suggesting that this significant threshold could act as a springboard for further price growth. At present, its value stands at approximately $98,560, reflecting a 7.63% upward surge over the past week, fueled by optimistic investor attitudes and growing market momentum.
Massive Liquidation To Follow If BTC Hits $100,000
It’s expected that Bitcoin’s price might soar up to $100,000 in the crypto market, but a notable analyst warns of potential massive sell-offs when Bitcoin hits this predicted price point. As per Ali Martinez’s analysis, approximately $1.89 billion worth of positions could be liquidated if Bitcoin ascends to $100,625.
According to the analyst’s chart, this Bitcoin liquidation is the total amount of short positions taken on margin, or the “accumulated short position leverage” in simpler terms. This analysis comes after reports that a massive 65,000 Bitcoins, equivalent to approximately $6.37 billion, were withdrawn from exchanges, as mentioned by Martinez.
According to Martinez’s latest disclosure, the TD Sequential for Bitcoin on its 4-hour chart is indicating a possible sell signal. This prediction suggests that a substantial drop in value may occur, potentially reaching around $97,085. However, if Bitcoin maintains a candlestick above $100,470, it could nullify the bearish pattern and possibly drive the price up to either $102,656 or $104,343.
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2024-11-24 05:46