Bitcoin (BTC) is once again testing the nerves of traders worldwide, hovering just above $105,000 today as forecasts split the crypto community in half.
Will the king cryptocurrency explode to $175,000 this cycle, or nosedive to under $80,000 if fear grips the market?
The $175K Dream
On the bullish side, pseudonymous chart-watcher Egrag Crypto supercharged hopium this week, predicting a huge breakout in the next few months. According to the analyst, BTC’s historical cycle data suggests the asset is primed for a 102% surge, which would catapult it to $175,000 from its current levels.
“The average of three major pumps this cycle is 102%, hitting $175K!” they tweeted, pointing to eerily similar patterns in previous bull markets.
The way Bitcoin shrugged off the effects of recent geopolitical upheavals has only bolstered Egrag’s bullish case. After Israel struck multiple Iranian nuclear and military assets, the cryptocurrency cratered, going from a daily high near $108,500 to jus
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