Bitcoin $100k Bull Run On Hold? Here’s The Reason

There have been various optimistic predictions about the price of Bitcoin, especially following the halving. After the miner capitulation was reportedly over, more analysts brought up the $100k bullish production.

At the moment of writing this article, Bitcoin is trading in the red, and the most important coin out there dropped in price by about 5% during the past 24 hours.

Bitcoin is trading at $9,182.38.

The $100k bull might be on hold

A popular margin trader on the crypto exchange BitMEX said that Bitcoin is getting ready for a new round of capitulation that will be getting rid BTC of bandwagoners and this will be putting the potential boost of BTC to $100k on hold.

The online publication the Daily Hodl brought up the trader, known in the industry as Flood who said that he expects a big BTC correction before the coin can head to new highs.


He said that the king coin will lose over 26% of its value in the near term.

Earlier today, we revealed that there’s been a massive whale alert these days, but analysts still think that a bull cycle is about to begin.

Stay tuned for more Bitcoin-related info and predictions.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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