Bitcoin Sees Seasonality Signal for Growth: Expert Predicts $120K All-Time High
This week, Bitcoin maintained its downward trajectory, momentarily falling below $95,600 during trade. The cryptocurrency asset has shown a sweep of equal lows at $96,200, with a demand zone between $94,300 and $95,800. However, a short-term positive turnaround has not yet occurred.
Despite the present correction phase, cryptocurrency expert Mikybull noted that if Bitcoin continues its cyclical pattern from 2018 to 2014, it may hit a new all-time high of $120,000. Bitcoin has seen an average gain in February, as the chart shows, and according to seasonality data, it is now expected to continue its upward trend in 2025.
Bitcoin Hits Local Bottom at $91K?
According to market researcher Danny Marques, the most recent drop in Bitcoin to $91,000 was the local bottom as well.
Bitcoin will be going to $120k+ sooner than you think and it’ll be quick This is how I see next few weeks/months for those that care about charts.
Marques
Leverage trading was identified by data analysis tool Alphractal as Bitcoin’s greatest risk, which might lead to a $80,000 retest despite claims for a local bottom. According to the analytics platform, there was a noticeable spike in long holdings in October 2024, resulting in a sizable liquidity gap between $72,000 and $86,000, which was a period of minimal trading activity. Therefore, there is still a chance that the long positions established since November 2024 will be liquidated by a steep decline below $80,000.
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