Bitcoin has retraced slightly and lost roughly $2,000 since its local top after many days of remarkable advances. On a daily basis, the altcoins have calmed down, with the exception of a few lower- and mid-cap ones, such as Tezos, which have risen.
The flagship currency has recovered from a modest fall on Wednesday, rising 3% in the last 24 hours to around $44,500, signaling a bullish trend, according to some analysts.
BTC price began a remarkable step up, reclaiming $40,000 for the first time in weeks, and then continued to climb. As a result, on February 7th, BTC reached $43,000 and $44,000 before the bulls pushed it higher, as reported yesterday.
BTC Price on a Path to $10,00,00!
If a specific scenario plays out, a well-known crypto analyst and trader claim that Bitcoin (BTC) might be on its way to $100,000 quite soon. Dave the Wave, a pseudonymous analyst, presented his Twitter followers the Bitcoin price path to $100,000.
The analyst updated the preceding chart with today’s pricing after two and a half years, and it appears to be following suit.
The above cyclical curve pointing to $100,000, according to the trader, should not be viewed as a support level, but rather as a mean price path that BTC can roughly follow. It is possible that Bitcoin will burst beyond the six-figure barrier later this year or in early 2023.
While the monthly chart remains bearish, some optimistic hints can be seen on Bitcoin’s weekly chart. Bitcoin’s moving average convergence divergence (MACD), a trend-identifier indicator, is finally exhibiting signs of strength.
BTC also appears to have broken out of a tight declining channel, according to the crypto researcher.
Source: https://coinpedia.org/bitcoin/how-bitcoin-btc-price-will-reach-100k/