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.

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