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Analysis: BTC is expected to rise to $110,000, but it may first fall below $40,000.
According to the analysis of encryption analysts Titan of Crypto and Elja Boom, the price of Bitcoin (BTC) is expected to reach $110,000 in 2025. Titan of Crypto pointed out that BTC is forming a bullish chart pattern called a "cup and handle", which suggests that the future price may pump. Elja Boom mentioned that once BTC's "inverse head and shoulders" pattern is broken, it will push the price above $100,000. He predicts that this high point will occur in the fourth quarter of 2024, and may reach $100,000 in the first quarter of 2025. However, not all analysts are so optimistic. Analyst Magoo PhD warns that BTC may first pullback to below $40,000 before a potential pump in 2025. In addition, analyst Moustace believes that even if there is a pullback, the market bottom will be around $57,000. According to CoinGlass data, BTC currently has significant support at $57,000. If it falls below this level, it could lead to the liquidation of leveraged short positions worth more than $860 million. Despite the uncertainty of BTCPA, the market generally expects the price to break through six figures in the coming years.