After reaching its all-time high above the $100,000 threshold, Bitcoin (BTC) remains a hot topic, with many speculating whether further gains are on the horizon. However, some traders predict that before we see another peak, a downturn may be imminent.
Among these voices is Peter Brandt, a prominent figure in the trading world, who has suggested that Bitcoin might experience one last “dump” or a period of consolidation before continuing its ascent.
In his latest post published on January 12, Brandt shared his analysis, showcasing the past performance of the leading cryptocurrency and outlining phases he terms “pump,” “hump,” and “dump.”
Specifically, a “pump” represents a period during which the asset grows rapidly, reminiscent of Bitcoin’s phenomenal rise from $70,000 to over $100,000 at the end of 2024, propelled by strong buying and the Trump effect.
Following this is the “hump” phase, where the rally slows and meets resistance, as seen in Bitcoin’s plateau in December, which saw the crypto asset consolidate around the $95,000 mark.
Finally, the “dump” signifies a downward correction, often triggered by profit-taking or a loss of momentum. In this case, Brandt suggests that if Bitcoin fails to hold its key support, it could drop to as low as $73,018.
Brandt analyzed Bitcoin’s performance and noted a recurring phenomenon in markets: strong price movements often occur when retail traders begin to tire, marking a turning point before significant price swings of the asset.
“The question I ask myself is whether Bitcoin will undergo another crash (or a longer consolidation phase) before registering a pump. Remember, markets typically do not tighten until retail traders become fatigued,” he remarked.
Could Bitcoin Reach $140,000?
Another well-known crypto analyst, Ali Martinez, has shared a similar prediction for Bitcoin. In his X post from January 11, the expert estimated that the asset could rise to the $140,000 mark or suffer a significant drop to about $67,000.
His predictions are based on two technical patterns observed on the BTC 12-hour chart: a bull pennant and a head-and-shoulders formation.
The bull pennant is a pattern that forms when Bitcoin rallies, followed by stabilization in an increasingly tighter range, with trend lines converging. Typically, the formation of this pattern indicates that the asset may continue to rise.
On the contrary, the head-and-shoulders pattern, marked by a central peak (the head) and two lower highs on either side (the shoulders), signals that a bearish reversal may be imminent. Meanwhile, Bitcoin is stabilizing around the $95,000 level, precisely at a pivotal moment to discern which direction it will take.
Bitcoin: Analysts Divided Between Bullish Predictions and Risks of a Sharp Decline
The outlook for Bitcoin remains uncertain, marked by contrasting scenarios among analysts. Some foresee a bright future for the asset, predicting it could double in value by 2025. Optimism is partly fueled by Donald Trump’s election, who has pledged to turn the United States into a crypto asset hub.
For instance, Standard Chartered predicts that Bitcoin could reach $200,000, driven by increasing interest from institutional investors.
Analyst Gert van Lagen, however, is even bolder, forecasting a Bitcoin price of $300,000 by March 30, 2025, based on Elliott Wave theory, which analyzes market cyclical patterns.
But not everyone is bullish. Currently, Bitcoin is below the $100,000 threshold, and some analysts, like Alan Santana, express concern. They fear that if the asset stays below this level, it could slide down to $40,000.
Overall, assuming Trump supports the crypto sector as promised during his campaign, it is likely that Bitcoin will experience further surges, driven by enthusiasm for a potential clear regulatory framework that could attract institutional investors.
Meanwhile, there is increasing pressure for major companies to allocate part of their reserves in Bitcoin as a hedge against inflation. After Microsoft shareholders rejected the idea, attention has shifted to Meta, the parent company of Facebook.
Specifically, one shareholder proposed allocating a portion of Meta’s $72 billion in liquid reserves to Bitcoin. If the proposal is accepted, Meta could become one of the first major traditional companies to hold Bitcoin, a move that could significantly boost the asset’s price.
Bitcoin Price Analysis
Currently, Bitcoin is trading at $93,026, down 1.28% over the last 24 hours. It is also in the red on other charts. Over the past week, it has accumulated a loss of 6.26%, while it has declined 8.58% over the month.
Bitcoin Consolidates as Investors Target New Presale Projects
While Bitcoin continues to consolidate around the $93,000 level, with bulls and bears ready to contest the next move, investors are also looking at other new presale projects that could offer growth opportunities shielded from market fluctuations.
One such project is $Wall Street Pepe ($WEPE). The project launched its presale in early December and exceeded expectations, raising over $47 million.
$WEPE is not merely a meme coin but a project with real use cases. Token holders gain access to an exclusive community called the $WEPE Army, along with unique resources, including advanced trading strategies, alpha signals, and weekly contests. Everything is designed to help investors navigate the crypto market more effectively and maximize opportunities.
The WEPE community is growing daily, thanks to mutual support among its members, who encourage each other in pursuit of success.
