- The price of Bitcoin falls once again leading to growing FUD.
- One analyst observes historic data and expects an ‘up only’ phase in February.
- Another confirms steady sideways movement in January.
The price of Bitcoin took another tumble for the second day in a row. Yesterday BTC price fell from $102,000 to $95,000 only to dip once again in the last 24 hours to the $92,000 price range. This led to a rise in FUD as many traders gave in to panic selling due to certain reasons that caused the dip.
Bitcoin’s Fall Leaves No Debate Over Recovery Phase
Presently, the price of BTC has reclaimed the $94,000 price range and shows highly bullish indicators for the pioneer crypto asset to pump further in the coming months and weeks ahead. While analysts remain certain that BTC price will reclaim its previous ATH at $108,268.45 and then rise to hit new ATHs, the timeline is still up for discussion.
Analysts Expect to See Only Upside in February
In line with these expectations, one analyst shares what seems to be historic data that hints that the price of Bitcoin (BTC) will surge in February. As we can see from the post above, the analyst marks the activity of BTC price in the previous bull cycle and highlights how the up only phase occurred previously in February and expects the same action this bull cycle.
Thus, the analyst concludes that January will likely see more sideways movement before an explosive upside arrives for the price of Bitcoin. As we can see from the post above, one reputed analyst adds to the expectation and reminds traders to remain patient as the next breakout will arrive eventually and will take BTC to the $125,000 price target.
