Bitcoin’s been doing pretty well lately. In just two weeks, it climbed from around $85,000 to nearly $97,700. That’s a solid jump, and it’s got people feeling hopeful. But just because it’s gone up recently doesn’t mean it’ll keep rising without any bumps along the way.
Right now, Bitcoin is hovering around $96,000. It had a strong start to May, but now the price seems to be settling a bit. So what happens next?
One Expert Thinks a Drop Is Possible — But Not the End of the World
A crypto analyst who goes by BALO thinks Bitcoin could still take a dip before heading higher again. He shared his thoughts on X (formerly Twitter) on May 3.
Based on past patterns, he believes Bitcoin might be reaching the top of this current price move. If it can’t break past $102,000 soon, we could see a short-term drop.
Here’s the simple version of what he said might happen:
- If Bitcoin gets rejected at $102K, it could fall to around $70,000.
- It might then bounce back up for a bit.
- But after that, we could see another drop, possibly down to $50,000–$60,000.
Now, that might sound scary — but it’s actually pretty normal in crypto. These ups and downs have happened before. For example:
- In 2021, Bitcoin hit $64,000, then dropped to about $30,000, and later made a new all-time high.
- In 2022, it dropped all the way to $16,000 before starting a new recovery in 2023.
So a dip doesn’t mean it’s game over. It’s just part of the ride.
What’s Happening Right Now?
At the moment, Bitcoin is trading around $96,100, down a little over 1% from yesterday. Also, trading activity has dropped a lot — by over 38% — which could mean traders are waiting to see what happens next.
Still, overall market sentiment is positive. A lot of investors are feeling confident and even a little greedy — which usually means people are expecting prices to go higher.
What’s the Outlook?
Another crypto site, CoinCodex, thinks Bitcoin might keep going up in the near future. They believe it could hit:
- Around $119,500 in just 5 days
- Around $111,700 in a month
- Around $136,000 in three months
Of course, no one can predict the future with 100% accuracy, but this gives us a good idea of what people are expecting.
The post Bitcoin Might Drop Before It Goes Up Again — Here’s What You Should Know appeared first on The Cryptoplay : All updates about Cryptocurrency worldwide.
