Will Bitcoin Price Soar Like 2017 or Fall Hard as in 2021?

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Will Bitcoin Price Soar Like 2017 or Fall Hard as in 2021? – Crypto News

Published

1 year ago

February 6, 2025

Dripp

Bitcoin price is on halt after its early January milestone to a new ATH of $109.1k. Since then, the token has been facing a consolidatory phase, which many crypto analysts have called the breakthrough point. However, there’s more to the picture, as the historical pattern presents that BTC is at a crossroads, where it could either rally hard as it did in 2013-2017 or crash as it did in 2021 (past halving). Let’s discuss this.

Analysts Claim Bitcoin Price Rally Is at a Crossroads

A crypto analyst with X handle, Rose Premium Signal, revealed that the Bitcoin price trajectory is at a pivotal crossroads, where it could either mimic the 2013-2017 rally or the 2021 downtrend. This comes as Bitcoin crosses 20% of the Bitcoin halving journey, which is the most defining point for this asset.

Notably, the Bitcoin halving is a massive event in the crypto market, which is often followed by a bull run after a significant period of time, but the journey may vary depending on various macroeconomic events and technical factors. Between 2013 and 2017, the BTC token went for a strong rally. It witnessed exponential gains, and the investors earned significant profits at that time.

However, in 2021, the cycle marked the beginning of correction despite it moving under the Bitcoin halving cycle. Because of this, the question arises of whether the BTC price will soar or correct ahead.

Bitcoin price prediction crossroad

Bitcoin Price Prediction: Rally or Correction Ahead?

On closely monitoring the BTC price chart, there are quite some similarities between the current and 2013-2017 cycles, indicating the possibility of bullish trends. However, macroeconomic events and other factors could cause turbulence, diverting the rally.

Many crypto experts mention a key catalyst that drives asset performance in Bitcoin price prediction. The same is true for the current crossroad situation, as bullish catalysts like increased institutional demand, Bitcoin reserve formation, etc., could propel Bitcoin to the 2017 rally.

BTC price

However, negative sentiments and market turbulence could propel it to a market correction similar to 2021. Bitcoin’s next move could determine how it will play between these two possibilities.

Bitcoin is at a critical decision point, and the next major move will determine the market’s trajectory.

How’s Bitcoin Behaving Today?

After its shallow dip to $92.5k with the crypto market crash, Bitcoin has significantly recovered. However, despite that, it is way down from its prime of $109.1k, currently trading at $98.5k after a 7% drop over the week. Interestingly, the token has moved up considerably due to Donald Trump’s son, Eric Trump’s social media post, which hinted at the potential portfolio allocation for Bitcoin.

On X, Eric wrote, “Feels like a great time to enter Bitcoin,” which was ambiguous, but experts connected to World Liberty Financial and its buying sprint. Trump’s family’s interaction with Bitcoin has been a bullish factor, so this could result in further recovery.

More importantly, the long-term outlook still appears optimistic. Experts like Standard Chartered Geoffrey Kendrick and DeepSeek predict that BTC price will reach $500,000 by 2028. Kendrick claims that the growing investor access and declining volatility would catalyze this rally. The success of the Bitcoin ETF and institutional demand also back up this prediction.

Bottom Line

Bitcoin is at the biggest crossroads of its development, as it could either rally like 2013-2017 or crash like the 2021 post-halving time. At present, the leading cryptocurrency token is witnessing high volatility, and its rally or further correction could change the entire trajectory. According to Rose’s analysis, the current Bitcoin price behavior resembles 2013-2017, which hints at an upcoming rally. However, the shift in macroeconomic trends and investors’ sentiments could bring a different outlook.

Frequently Asked Questions (FAQs)

Bitcoin is trading at $98.5k and consolidating after facing heavy liquidation a few days ago.

Key factors like macroeconomic events, the US’s regulatory stance, institutional demand, investor sentiments, and much more could influence Bitcoin’s next move.

Standard Chartered and others predict that Bitcoin’s price could hit $500k by 2028 in optimistic circumstances.

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