- Bear market calls increase as many expect BTC price to fall.
- Seasoned analysts remain resolute, expect BTC price to hit a new ATH at $116,000.
- Analyst says no bear market can start without a proper bull market playing out.
Bitcoin price reclaimed higher highs in the $80,000 price range after days of staggering in the lower $80,000 price range. Bear market calls are taking over the crypto space but seasoned analysts do not agree. Several analysts see a bullish pattern on the BTC price chart and instead expect recovery and an upward movement.
As we can see from the post above, Bitcoin has printed a bullish pattern on the BTC price chart. The analyst states that a right-angled descending broadening wedge is printed on the BTC daily chart. The analyst has been predicting a $116,000 BTC ATH price and suggests that if a price breakout forms then this is very likely.
Meanwhile, another analyst shares his take on how many are calling for a bear market and why he doesn’t agree. In a detailed post as shown above, the analyst highlights the fact that Bitcoin’s 200-week arithmetic and geometric means have been close together for over a year indicating reduced volatility and a steady sustained uptrend, doubling from $20,000 to $40,000 in 2023 and from $40,000 to $80,000 in 2024.
What if this steady uptrend continues, he asks, from $80,000 to $160,000 in 2025, and to $320,000 in 2026, to $640,000 in 2027, and so on? Yes, such a scenario would mean the end of the 4-year cycle, earlier than most expected, but it would fit a more mature market, he says. He concludes by saying that a real bear market can only occur after real bull market, and there has been no real bull market yet.
