Bitcoin Falls 2.5% in an Hour- New BTC Price Prediction
Bitcoin tried to climb above $90K but was shot down again and is struggling around $88K in the grip of a bearish trend.
Quick overview
- Bitcoin experienced a significant drop from $92.8K to $88.1K, losing over 5% in value.
- The cryptocurrency has struggled to maintain the $90K level, raising concerns among investors about a potential turning point.
- Despite the recent decline, analysts believe Bitcoin could rebound in the long term, but new record highs may not be reached until 2026.
- Short-term investors are advised to be cautious, while long-term holders might find this dip an opportunity.
Bitcoin climbed to $92.8K on Wednesday but then plummeted down to $88,152 (BTC/USD) on Thursday, losing 5% in the process and more than 2% over the last 24 hours.
Bitcoin (BTC) simply cannot catch a break. Anytime it starts to climb back up this week, it falls down again as investors jump ship. The con has now stayed below the $100K level for a full week and will likely have a tough time even getting back to that mark.
BTC/USDOver the past few days, we have seen Bitcoin have difficulty with even the $90K level, and investors are rightly worried that this could signal a turning point for the token. It may mean a lower support level for the time being and could indicate that Bitcoin is not going to set a new record high anytime soon.
Is Bitcoin’s Situation Really Dire?
A few days of declining numbers for Bitcoin might not be catastrophic, and we have seen the coin decline periodically throughout the year, but it is the nature of this bearish trend that is worrying investors and analysts. BTC has not just dropped in value by a few thousand dollars, it has fallen from a record high of $124.7K in October to its current value of $88.1K.
That is a significant decline and tells us that the bearish trend is strong and is likely to keep Bitcoin down for a while. Between June and September, Bitcoin fluctuated from $100,000 to $123,000. There were sharp drops, but none as significant as its decline through November.
Bitcoin could make a comeback this year, but tis chances of setting a new record high in December are looking slim. It is more likely that the coin will grasp and paw its way up to $115K or $120K and not reach its previous high again until sometime in 2026.
Does it make sense to buy the dip at this point? We are confident that Bitcoin will set a new record high next year, but investors need to be willing to wait it out. Short term investors should stay away from Bitcoin, but this dip could become extremely profitable for long positions.
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