In the cryptocurrency market, Bitcoin has fallen a bit. Analysts put forward their views at the stage where the price went down to the 30 thousand band. We include the opinions of 8 BTC analysts.
Bitcoin opinions of famous analysts
Our first analyst, Crypto Ed. Famous trader Crypto Ed draws attention to the importance of the $30,000 level. It is also awaiting a response from this range.
Our second analyst is Jelle. Famous trader Jelle is emphasizing the $28,000 level that has caught the attention of other market participants. Accordingly, he expresses his interest in “buying the bottom” for this level. Jelle also talks about a pullback for Bitcoin to surpass the $32,000 level. According to him, this is clearly a bullish divergence.
Our third analyst is Rekt Capital. Analyst Rekt Capital downplayed the intraday performance, stressing that there is no reason for panic.
Our fourth analyst, Crypto Tony, shares a similar sentiment. Accordingly, he points out that the $28,000 level is a suitable entry point.
On the other hand, our fifth analyst, Daan Crypto Trades, repeats his bullish stance. Accordingly, it highlights the solid bullish market structure. He also points out that a test of the $29,500 level is likely if the mid-range support is breached.
Bitcoin insights from analyst Willy Woo
Our sixth analyst is the famous Willy Woo. Woo suggests that on-chain data indicates that Bitcoin (BTC) may be entering the early stages of a price squeeze. The analyst highlights a short squeeze situation in which traders who shorted the asset cut their losses due to an unexpected price spike, triggering further upward momentum. Woo emphasizes that the demand driving Bitcoin’s price action is primarily driven by calendar futures markets, which are popular with professionals and institutions. The analyst states that the continued increase in demand points to the early stages of another price squeeze.
Woo remains optimistic about potential price squeeze. On the other hand, he acknowledges that not all Bitcoin benchmarks are fully bullish. He warns of overbought calendar demand and the importance of monitoring the declining basis, which represents the cost of maintaining a long position. Sudden changes in base can affect bullish price action.
Bitcoin insights from crypto strategist Pentoshi
Pentoshi, a crypto strategist known for accurately predicting that the Bitcoin (BTC) bull market will end in 2021, is our seventh analyst. Pentoshi has issued a cautionary note regarding a potential market correction. Pentoshi maintains a positive outlook for Bitcoin to surpass the $32,000 level. On the other hand, it warns of a subsequent correction due to fear of missing out (FOMO) and excessive leverage. It also creates conditions for a fall.
Pentoshi advises investors considering entering the market around $32,000 to consider their targets. He also advises them to be wary of a possible larger fix. He underlines that long-term investments and increased leverage that entered the market late could contribute to a market correction.
Key support levels and Bitcoin’s momentum
According to Pentoshi’s chart analysis, key support levels for Bitcoin are around $29,100, $26,600 and $25,100. Previously, he correctly predicted a BTC retracement below $30,000 and indicated that the cryptocurrency is poised for an upward move after finding support around this level.
Pentoshi predicts that Bitcoin will reach an all-time high of $180,000 in 2026. It also predicts a price bottom of $69,000 in this market cycle. On the other hand, he humorously depicts the emotions of market participants during this time.
The approach of Markus Thielen, head of research and strategy at Matrixport
The eighth analysis comes from crypto services provider Matrixport. Matrixport predicts a significant rally for Bitcoin (BTC). It estimates the price increase will reach up to $125,000 by the end of 2024. This prediction is in line with Bitcoin’s historical pattern of gaining sharply following mining reward halvings. Matrixport’s analysis shows that a multi-month bull market typically occurs after a bear market, marked by Bitcoin reaching a 12-month high, is confirmed to be over.
The latest signal confirming the end of the bear market came as Bitcoin surpassed $31,000 to reach its highest price since June 2022. Similar signals have been observed in previous years, including August 2012, December 2015, May 2019 and August 2020. In addition, prices have increased in the following years.
Matrixport’s predictions
Markus Thielen, director of research and strategy at Matrixport, points to the potential for Bitcoin prices to increase by 123% in twelve months and +310% in eighteen months. On the other hand, it underlines the historical significance of this signal.
cryptocoin.com Looking at it as a whole, based on past signals triggered in 2015, 2019 and 2020, this projection will result in Bitcoin prices reaching $65,539 in twelve months and $125,731 in eighteen months. Thielen excludes the 2012 signal and the dramatic price spike that followed, describing it as an “epic, disproportionate” bull market.
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