Bitcoin’s Downtrend Continues, But Analyst Predicts $180K Target—Is It Possible?
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Bitcoin Continue Downward trend The move initially sparked optimism among investors, despite a brief surge to $94,000 last week. Cryptocurrencies have been steadily declining since reaching this level, with trading prices currently below $80,000 as of today.
Although short-term price action indicates bearish outlook, some analysts remain confident in the potential for Bitcoin’s long-term growth.
Bitcoin price prospects: $180,000 at your fingertips?
ibrahimcosar is one of the contributors to CryptoQuant and recently shared his view On the price trajectory of Bitcoin, it provides bold predictions for its next all-time high (ATH).
In his latest analysis, analysts reiterated his long-term expectation that Bitcoin will reach $180,000 by 2026, citing historical price cycles and institutional forecasts that match his forecasts.
According to Ibrahim, Bitcoin’s price movements over the past year followed a familiar pattern in previous bull cycles. Analysts pointed out Major financial institutions Similar long-term predictions have recently begun to be made to validate his early predictions.
Although Bitcoin is currently trading below $80,000, he believes the asset is likely to more than double its value in the next two years.
If Bitcoin follows the historical pattern, the $150,000 to $200,000 range can be achieved in the upcoming bull cycle. Analysts stressed that the input investors Market level It may see more than 100% returns, offering Bitcoin to reach its forecast target by 2026.
However, he also pointed out that it is crucial to properly time the market, as buying at the critical level is most important. Favorable opportunity Long-term gains. Ibrahim wrote:
All in all, those who invest in Bitcoin at these levels are likely to earn more than 100% in US dollars, or even no longer wait for a year. Buying in the right area and at the right time can bring great opportunities.
Short-term market trends and buying opportunities
Although long-term forecasts remain bullish, Bitcoin’s short-term price action is still volatile. Another crypto analyst, Bilalhuseynov, provided opinion Open Interest (OI) trends, which may indicate whether this is a good time to buy Bitcoin.
According to Bilalhuseynov, the seven-day change in open interest enters the “deleveraging” phase, a signal historically consistent with potential buying opportunities.
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This time it happened in August 2024, when Bitcoin was trading between $58,000 and $60,000, and then gathered to an all-time high of $106K. If historical trends repeat, the current market conditions may be Similar recovery. Crypto analysts noted:
When the OI ratio changes to 7 days with this section, this means we can define the purchase time. Since August 2024, we have been observing one of the deepest regions in the cryptocurrency market. Remember that currently (August 2024), the price of Bitcoin is around 58-60k. After that, the price is as high as about 106K.
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