Bitcoin Price May Crash Before BTC Rally To $320k This Cycle: Analysts

The warning comes as Bitcoin price continues to surge, with many traders betting on further gains. While Matrixport‘s warning doesn’t necessarily mean a crash is imminent, it does suggest that traders should be cautious and prepared for potential volatility.

What Lies Ahead For BTC？

The recent comments from Matrixport have undoubtedly fueled discussions in the market. However, evaluating the current performance of BTC price, other analysts have shared bullish forecasts for the crypto.

For instance, in a recent X post, expert Michael van de Poppe said that Bitcoin price may face a likely correction before it rallies to $120-$130k in the coming days. However, looking at the current performance, he noted that the current market performance invalidates “a potential correction on Bitcoin”.

BTC Price Analysis

He noted that although a slight pullback was there, the market was quick to support BTC to hold its $109k support in the last 24 hours. Having said that, it appears that the crypto might continue to rally in the ongoing cycle with slight pullbacks in between.

How High Can BTC Go This Cycle？

With the current surge in Bitcoin price, many are questioning how high the crypto can go this cycle. Allaying the concerns, analyst Gert van Lagen said that BTC can hit $320k in the coming days.

The analyst said that the “4-year Bullish Megaphone pattern retest” is completed, confirming a trend continuation. This development is expected to trigger further gains in BTC, driving its value to a new high.

Bitcoin Price Prediction

Simultaneously, Van Lagen noted that the “Step-like Formation is fully validated”, indicating that Bitcoin has entered discovery mode. This would represent a significant surge, with price increases of over 50% beyond recent levels.

Simultaneously, a recent report also highlighted top cryptos to buy as BTC is poised to hit $250k this year. This also indicates the bullish sentiment hovering among investors, which might help more gains the flagship crypto ahead.