Can BTC hold $90,000? At this point, it is similar to the 2017 cycle...
According to multiple analysts, BTC has tested the $90,000 level, a key support level, as the cryptocurrency market sentiment worsened due to the start of the US trade war. The $90,000 level is a price range that has been tested several times since November 18, last year. We need to keep an eye on whether this support line will be maintained. In this regard, cryptocurrency analyst Michaël van de Poppe said, “If BTC maintains above $93,000 in the future, it is expected to set a new record high in February. After a big rise, a correction is a natural phenomenon in a bull market.”
Meanwhile, digital asset expert Van Stratten has diagnosed that “Bitcoin is currently similar to the 2017 halving cycle, even in the face of the US tariff war.” He said, “Bitcoin has risen 525% from its low point after the FTX bankruptcy in November 2022, while Bitcoin rose 533% at the same stage of the 2017 cycle.” In addition, Bitcoin has maintained a $90,000 to $109,000 price range despite increased market volatility over the past two and a half months. Currently, it is testing both the upper and lower bounds of this range,” the analysis said.
