Despite Bitcoin's recent price crash, analyst TradingShot remains hopeful, suggesting Bitcoin could rally up to $200,000. He noted that Bitcoin's current volatility is influenced by geopolitical and economic factors, and 2024 marks the end of the bull cycle.
TradingShot pointed out that historical trends show Bitcoin's cycle tops usually occur in November or December. He projected that the cycle peak might form by November 2025, with prices reaching between $180,000 and $200,000, aligning with a past prediction by Standard Chartered.
Bitcoin had a rocky start this year, dropping to $93,000. However, crypto analyst Ali Martinez remains optimistic, citing significant BTC withdrawals from exchanges as a sign of potential price recovery. Furthermore, Binance traders are shifting from short to long positions, reinforcing a bullish trend.
The article wraps up with Bitcoin trading at $93,000, down over 2% within a day, reflecting data from CoinMarketCap. Both TradingShot and Martinez share an optimistic outlook for Bitcoin's price recovery based on these trends.
