Will bitcoin trade above $100,000 again?
Breaking above $100,000 for the first time in December, the most famous cryptocurrency has drifted lower since peaking at $109,000 a month later. Independent analyst Alistair Strang looks at what might happen next.
2nd April 2025 07:34
by Alistair Strang from Trends and Targets
Apparently, American tariffs will cause crypto currency to soar, if we believe some analysts. Equally, other analysts predict crypto shall collapse for the same reason. Similar views were broadcast about gold, a commodity which is currently trading very slightly higher than we can calculate! Conventional logic suggests gold should experience some collywobbles at current levels but, if the market is emphatic in assigning an ambition against gold prices, goodness knows how high it could go.
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It is certainly the case that bitcoin isn’t exactly showing many great ambitions at present. While it was spiked to $85,271, this was enacted thanks to a manipulation gap at the open of trade. Visually, this surge is something we feel cannot be trusted due to the obvious Blue downtrend since the start of this year.
Despite the opportunity, the market failed to push the value of bitcoin above the downtrend, and this makes us cautious about the future. It was certainly an easy and straightforward goal to better but, with an impressive degree of control, the market has avoided piercing the Blue downtrend.
In a loss scenario where the market is now currently messing around, below $84,500 looks like it has the potential of dribbling downhill as movement to an initial $79,339 looks possible with our secondary, if broken, at an eventual bottom and rebound (maybe) at $76,045.
However, bitcoin does not require a great deal of work to display the potential for surprise recovery. Above just $86,000 theoretically should trigger recovery to an initial $87,750 with our secondary, if bettered, at $90,000, kicking open the door for some further impressive gains.
For now, we are far from confident bitcoin shall exhibit recovery.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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