Bitcoin Price Analysis: $120,000 or $20,000 ?

Share IT

Bitcoin is the king of crypto, the pioneer of digital money, and the world’s most popular and widely-used cryptocurrency. It started a revolution that spawned a whole new asset class, and challenged the traditional, centralized financial system. Many believe that Bitcoin will usher in a new era for the global economy, but that remains to be seen.

Now with a recent report of Standard Chartered, predicting Bitcoin could go as high as $120,000, let’s take a look at the near -term trend and Bitcoin price analysis.

Bitcoin Price Performance

Bitcoin has been trading in a volatile range between $26,000 and $32,000 for the past few weeks . The price has been influenced by various factors, such as regulatory developments, institutional adoption, environmental concerns, mining disruptions, and market sentiment.

The following table shows the key stats of Bitcoin’s price performance :

Current Price$30,460
Market Cap$599 Billion
24h Trading Volume$15 Billion
Total Supply 21 Million
Circulating Supply19.4 Million
All-Time High$68,789

Also read, Top 3 Undervalued Cryptos to Buy for the Long Term

Bitcoin Price Trends and Predictions

Bitcoin Price Analysis

As expected BTC pumped after the breakout and now again retesting above the ascending triangle for the bullish run ????.

  • Bullish Scenario: Bitcoin could break out and gain the level of $35,000 which would open the doors for $42,000.
  • Bearish Scenario: Bitcoin could continue to face resistance at $31K and fall below $30K, triggering a distribution phase and a re-test of $27K or lower levels.
  • Neutral Scenario: Bitcoin could remain in a sideways consolidation between $28K and $31K until a clear direction emerges from external factors or market sentiment.


Bitcoin is the most dominant and influential cryptocurrency globally, but its price is subject to high volatility and uncertainty. Price analysis can help traders and investors understand the market trends and make informed decisions based on data and logic.

However, price analysis does not guarantee future performance and should be used with caution and risk management.

For on-demand analysis of any cryptocurrency, join our Telegram channel.

Share IT
Harsh Panghal
Harsh Panghal

Get Daily Updates

Crypto News, NFTs and Market Updates

Claim Your Free Trading Guide

Sign up for newsletter below and get your free crypto trading guide.

Can’t find what you’re looking for? Type below and hit enter!