How Long Will Bitcoin Remain above $100K?
With Bitcoin (BTC) holding steady above $100K, the token is looking promising to investors, and it has gained 1.74% over the last 24 hours. How long should the market expect it to hold there?
This is not new ground for Bitcoin, which has been above $100K multiple times since December of last year. Currently at $100,724 (BTC/USD), the token is in a sweet spot for investors. They know it could go much higher, as Bitcoin has proven very recently when it hit $108K. The token also looks like it is in a bullish trend, so investors are looking to jump in now while the coin is still at a profit-making level for them.
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We anticipate that trading on this token will heat up this week and will drive the price well above its current level. That should keep it from falling below $100K for a little while, but there is definitely more resistance at this current level than there was during December. Other cryptocurrencies are taking the spotlight from Bitcoin and finding space for themselves in the marketplace as Bitcoin is stumbling a bit.
Pepe (PEPE) and Lightchain AI (LCAI) are both doing very well and reaching new levels that are throwing some of the analyst spotlight on them. bitcoin will likely need to climb back very close to its all-time high to bring the spotlight back on itself in a big way.
What to Expect with Bitcoin
The price prediction for Bitcoin has to be adjusted in light of its current resistance levels. A few days ago, the expectation was that the coin could reach $200,000 or $250,000 before the end of the year. While we do expect Bitcoin to trend much higher by year’s end than it is now, thanks in part to a new legal framework for crypto to be set up by the new presidential administration, we don’t think it will hit $250K.
The reason is that there is so much resistance for Bitcoin at the moment that it feels impossible for the coin to hit those sky-high marks in 12 months. Bitcoin is more likely to settle somewhere just below $200K by December of the year. That would be incredibly good for the coin and would show tremendous progress toward a bright future, but some of the recent analyst price predictions may be overly hopeful. That tends to happen when analysts are trying to draw in viewers and get clicks, but a realistic expectation for a sub-$200K level for Bitcoin seems about right with what we are seeing at the moment.

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