What’s Next for BTC Price? Expert Predictions Unveiled

  • Bitcoin experienced a significant shift recently, causing ripples throughout the cryptocurrency market.
  • Over the last 24 hours, Bitcoin’s price plummeted by approximately 3%, triggering a substantial sell-off in the broader crypto market.
  • Influential factors behind this price drop include a major sell-off following a live stream by GameStop’s top influencer, combined with a decline in meme coins.

Discover the reasons behind Bitcoin’s recent plunge and expert predictions on its future trajectory.

Bitcoin’s Recent Price Movements: What Happened?

On June 7th, Bitcoin’s price fell from $70,771 to $69,326 within a day, marking a notable decline of 2.05%. This sudden drop came on the heels of the U.S. Department of Labor’s May jobs report, which revealed the addition of 272,000 new jobs—significantly above the expected 185,000 and the previous month’s figure of 165,000. Consequently, the unemployment rate also increased to 4%, a level not seen since January 2022.

Expert Opinions on Bitcoin’s Future

Following the overnight drop below $70,000, Bitcoin is currently trading at $69,343. Some analysts contend that Bitcoin remains in a bull market and could surge to $83,000 in the coming days. This bullish outlook is supported by technical indicators and the likelihood of a rate cut spurred by weak economic data. However, opinions differ on Bitcoin’s long-term peak, with some projections suggesting it could surpass $120,000 by Q4 2024, while others deem this forecast overly optimistic. Here are some insights from various experts:

  • il Capo: Believes the recent decline is a “shakeout,” identifying support levels for Bitcoin at $69,000 and $67,000. For Ethereum, the critical level is below $3,600.
  • Markus Thielen (10x Research): Predicts Bitcoin could rise to $83,000 if it surpasses $72,000, based on technical patterns like the inverse head and shoulders.
  • Bitfinex Analysts: Foresee Bitcoin reaching over $120,000 by the fourth quarter of 2024, supported by metrics like the MVRV ratio.

The cryptocurrency market is inherently volatile and carries substantial risk. It is crucial to conduct thorough research and consider financial guidance before making investment decisions. The information in this article is not a recommendation for investment. Always perform your due diligence and consult a financial advisor if necessary.


In summary, recent data and market dynamics have significantly impacted Bitcoin’s price. While some experts remain optimistic about its potential to rise, others caution against overly ambitious projections. Investors are advised to stay informed and exercise caution in these unpredictable markets. Follow us on Twitter, Facebook, Instagram, Telegram, and YouTube for the latest updates and expert analyses in the crypto world.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News


PRO Analysis

XRP Price Analysis: Temporary Recovery Amid Volatile Market Conditions

XRP has recently made a notable recovery...

XRP Price Analysis: Key Levels Suggest Potential Reversal Amid Market Decline

XRP's price performance continues to fall short...

PEPE Price Analysis: Potential Drop Below $0.000010 Amidst Rising Volume

The memecoin market has been experiencing considerable...
Crypto Vira
Crypto Virahttps://coinotag.com/
Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.

Terraform Labs Settles SEC Charges for $4.47 Billion Over Terra Collapse

The crypto world is abuzz with the recent announcement of Terraform Labs settling its charges with the Securities and Exchange...

Ethereum-Powered NFT Game Parallel Launches on Epic Games Store, Expands Player Base

Parallel has launched on the Epic Games Store, expanding its reach. Epic Games Store had 270 million...

Bitcoin Surges to $69,500 Amid Positive Economic Data and Anticipated Fed Moves

The latest economic data has impacted the cryptocurrency market, causing significant movements in Bitcoin's value. Analysts are closely monitoring the Federal...