Despite the recent Bitcoin price crash, crypto analyst TradingShot has suggested that this is not the end of the road for the flagship crypto. This came as he revealed why BTC could still rally to as high as $200,000 in this market cycle.
Bitcoin Price Set To Rally To $200,000 Despite Recent Crash
In a TradingView post, TradingShot predicted that the Bitcoin price could rally to $200,000 despite the recent market crash. The analyst noted that Bitcoin has started this new year with high volatility amid geopolitical and economic news input. He added that this year is the last year of this bull cycle.
However, the recent Bitcoin price crash doesn’t mean that the flagship crypto is close to its market peak, as TradingShot remarked that the cycle top could start forming around November. He made this prediction based on historical trends, as the three previous tops have been either in November or December.
The crypto analyst also noted that the last cycle top formed above the Pi Cycle Top and on the LGC Zone from the top. In line with this, TradingShot predicted that the Bitcoin price could be close to $200,000 even if BTC barely tests the bottom for the LGC 2nd Zone from the Top by November 2025.
TradingShot added that, technically, the projected Peak Zone for the Bitcoin price should be between $180,000 and $200,000. He remarked that this range may still be below the Pi Cycle, so it looks to be a fair scenario. Standard Chartered also shared a similar prediction last year, stating that a rally to $200,000 by year-end 2025 is “achievable.” Meanwhile, Bernstein analysts described a $200,000 prediction by year-end as a “conservative” estimate.
A Price Rebound Could Be On The Cards
The Bitcoin price has suffered a terrible start to the year, dropping to as low as $93,000. However, crypto analyst Ali Martinez has shared some positives that suggest a price rebound may be imminent. In an X post, the crypto analyst revealed that more than 22,000 BTC, worth $2.10 billion, were withdrawn from exchanges over the past week.
This presents a bullish outlook for the Bitcoin price since heavy Whale accumulation typically precedes a price recovery. Meanwhile, Martinez mentioned that 63.92% of Binance traders are now going long since BTC dropped to as low as $93,000. These traders were previously shorting BTC when the flagship crypto was trading above $100,000. With these traders now going long, a rebound may be imminent.
At the time of writing, the Bitcoin price is trading at around $93,000, down over 2% in the last 24 hours, according to data from CoinMarketCap.
Source: NewsBTC