Why The Bitcoin Price Might Never Drop Below $100,000 Again

Crypto analyst PlanB has explained why the Bitcoin price may never drop below $100,000 ￰0￱ comes as market participants continue to speculate on whether the flagship crypto could fall below this psychological level if a full-blown bear market were to ￰1￱ Price Has Likely Turned $100,000 Into Support PlanB stated in an X post that he will not be surprised if the Bitcoin price does not drop below $100,000 again as the market witnesses the $100,000 resistance turn into $100,000 ￰2￱ analyst further noted that the September close was the fifth consecutive monthly close above that psychological price ￰3￱ Reading: Here’s The Best Time To Buy Bitcoin As Impulse Wave Sets Path To $150,000 PlanB stated that the same thing happened when the Bitcoin price was trading at $10,000, $1,000, $100, and $10.

The analyst’s remarks came as he noted that 63% of people think that Bitcoin will drop below $100,000. Notably, there were more calls for a drop below $100,000 towards the end of September when BTC dropped to as low as $108,000. Crypto influencer Ansem was among those who predicted that the flagship crypto would likely retest $90,000. However, the Bitcoin price has since staged a remarkable comeback from the $108,000 lows, rallying to a new all-time high (ATH) above $126,000 to start the ￰4￱ a result, BTC is already up 7% to start the month, with October notably the flagship crypto’s second-best performing month after November, based on historical ￰5￱ is worth noting that the Bitcoin price has traded above $100,000 since May 8 and has now been above this psychological level for over 150 days, its longest streak.

Meanwhile, market participants are currently betting that it will likely stay this ￰6￱ to Polymarket data, there is only a 25% chance that BTC will drop below $100,000 by the end of this ￰7￱ Bull Market Still On Crypto analyst Titan of Crypto declared that the crypto market is still on and questioned why market participants were in a rush to call the ￰8￱ analyst noted that the Stoch Relative Strength Index (RSI) crossovers keep aligning with ￰9￱ added that the chart will tell them when the bull run is over, but for now, that is not the ￰10￱ Reading: Bitcoin’s 2021 Playbook Shows The Final Price Target For This Bull Cycle In another analysis, Titan of Crypto revealed that the Bitcoin price continues to print higher highs and higher ￰11￱ on this, he raised the possibility that BTC could rally to as high as $160,000 by the end of the ￰12￱ aligns with predictions by JPMorgan and Standard Chartered, which predict that BTC can reach $165,000 and $200,000, respectively, by ￰13￱ the time of writing, the Bitcoin price is trading at around $122,000, up in the last 24 hours, according to data from ￰14￱ image from Pixabay, chart from ￰15￱