They might bring it down to achieve a double bottom at, hopefully, higher than $102K (higher low).
A weak sauce bounce so far, anyway.
People throw around numbers that are either too low, if the bull market continues, or too high if it would not.
If Oct10 was just a bull market reset, then we would need to go much higher (at least 50% higher to 150-155K or even higher from the lows) and if it was a start of the bear, then it is unlikely to go up much more above 126K, or maybe 130K max.
In effect, anyone who mentions 130K actually thinks that the bull market is essentially over.
A small overshoot often happens-like in Nov 2021 when the stronger top was in April at, maybe, 3-4K lower and at 68.9K, the bull was exhausted and the peak lasted a very short time.
We havent really even had a bull market. We cant even double the previous cycle top from four years ago.
2025 yearly open was 94k. Were at 112k and looks like were going lower. Would be quite something to end the year below its open.
This is not a bull market.
We all accept that Bitcoin can perform badly in a bear market. Its been a great opportunity for lots of us to make serious money over the years but I dont think Ive ever been as disappointed in Bitcoin as I currently am. Utterly pathetic 2025 so far.
I thought 150k was close to guaranteed but it looks miles off right now.
I hear you in some respects, but why should we count from Jan 1, 2025?
For mark to market or tax purposes? This "bull" started in Nov-Dec 2022.
It is a strange market...maybe it should be called a "currently subdued bull"?
Over the years , I have seen many situations where Mr Market was "faking" bear action in some stocks while true whales were loading on the cheap.
Examples: NFLX in 2012 (drop from $39 to $9-minus 77%, Icahn was buying in bulk), now NFLX is at $1215; NFLX again in 2022 ($691 to $166-minus 76%, not sure who loaded up); META-380 to 89 in 2021, minus 76.6%, now $712; LLY-flat between 1997 and 2012, then from $31 to $813 on Mounjaro (similar to Ozempic) with 10X move between 2018 and 2024. All and all, accumulators seem to "like" down 76-77% moves and bitcoin also obliged for an exact same number in 2021-2022.
The point is that you wouldn't know what to expect. Currently, it seems that SBR "wants" to load on the cheap and China via Binance "wants" to suppress bitcoin in lieu of promoting gold. Bessent is a "player"...he would let it play for a while and then: Wham...selling a tiny bit of gold and buying bitcoin...gold would be cut in half, maybe, and bitcoin would add 50-100K. This is my view, not a real prediction.
