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Just yesterday, Bitcoin broke through the significant $80,000 threshold. Today it’s already trading above $81,000. What development experts now expect and why the right time to buy more could be right now.
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Bitcoin Price Rises Above $81,000: What Experts Expect Now
The Bitcoin price is currently showing a clear upward trend. BTC rises above $81,000 and approaches the $82,000 threshold. In the daily trend, the largest cryptocurrency achieved price gains of up to three percent. In the weekly trend, the gains add up to seven percent.
- Bitcoin
(BTC) - Price $81,640.00
- Market Cap
$1.63 T
According to data from CoinMarketCap, BTC reached its regional high of $81,700 today around 6:00 PM Swiss time. Just yesterday, the cryptocurrency was able to cross the significant $80,000 threshold for the first time since January 31. By the time of publication, the market value pulled back slightly and settled at $81,414.
Countless price analysts have since expressed their assessment of the future development of the Bitcoin price. On X, a strong conviction for further price gains is currently evident.
“Bitcoin looks ready for further gains,” wrote price analyst Michaël van de Poppe. “The price has exceeded the $79,000 mark. The trend is clearly upward,” he added.
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Short-term losses that only last a few hours are therefore nothing unusual and could occur between price gains.
According to van de Poppe, there is already huge enthusiasm for BTC in the market that won’t subside anytime soon. Further price gains are now expected. The price analyst specifically mentions a price target of $93,000.
“Interest is high, and the trade between gold and Bitcoin is definitely running at full speed. I don’t think this development will slow down anytime soon given the current market situation. At least there’s room up to $86,000–88,000 and most likely up to $91,000–93,000.”
Is Now the Right Time to Buy Bitcoin?
Van de Poppe also believes that now is the right time to buy Bitcoin. Over the past few months, the cryptocurrency struggled. Institutional investors kept their distance from the digital asset because of the four-year cycle. Geopolitical tensions unsettled additional investors.
The sentiment currently seems to be shifting. An increasingly positive sentiment is already evident according to the CMC Crypto Fear & Greed Index. The index rose to 49 out of 100 points today, placing it in the neutral range. Last week it was still at 41 points—very close to a fear-driven market situation.
According to van de Poppe, the current situation separates the wheat from the chaff. Because while pessimists hesitate, optimists are already buying more and thus preparing for rising prices. According to van de Poppe, the right time for investments has now arrived.
“Many people don’t like buying Bitcoin at these prices because they’re afraid. The interesting thing is: that’s actually the best time to buy Bitcoin,” writes the price analyst. “As soon as you feel comfortable buying Bitcoin, many others feel the same way, and most of the returns are already lost because it’s a crowded market.”
Trader Tardigrade also believes in a bullish development if BTC closes the day above $81,000. Then a significant resistance would be broken and the door opened for a price rally.
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Why Some Analysts Remain Skeptical
Some analysts remain skeptical. According to them, the Bitcoin price is not yet able to establish a longer-term upward trend. According to Rekt Capital, what’s mainly missing is a catalyst.
“Currently, the opinion is widespread that the bottom of the Bitcoin bear market has already been reached (…) but this supposed bear market bottom is probably not the final cycle bottom”
The current developments around Bitcoin are therefore not powerful enough according to Rekt Capital. Bitcoin’s international significance is growing precisely because of the Middle East conflict. Additionally, the US is approaching the creation of the significant crypto law CLARITY. According to data from CoinShares, large investors are returning to the crypto market.
“To trigger an acceleration of the cycle, a clear catalyst is needed, similar to the catalyst from the ETF and halving in 2024,” criticizes the analyst.
Rekt Capital is not alone in his assessment. Crypto Rover also considers Bitcoin’s recent price development to be deceptive. Further price losses are therefore expected.
“Don’t be fooled by Bitcoin’s price breakout!” warns Crypto Rover to his readers.
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