A widely followed crypto analyst says the future of Bitcoin (BTC<\/a>) remains unclear as the markets continue to display heightened volatility.<\/p>\n In a new thread, pseudonymous crypto trader Altcoin Sherpa tells<\/a> his 242,200 followers on the social media platform X that all outcomes are possible for the crypto king, noting that BTC will likely land somewhere between $75,000 and $100,000 within the next week.<\/p>\n \u201cThis market is highly volatile and I think that we can both send to $100,000 again or drop to $75,000 within the next week. All outcomes are on the table and it\u2019s best to stay in cash (ready to ape if necessary). Don\u2019t leave the computer over the next few days.\u201d <\/em><\/p>\n According to the trader, the top crypto asset by market cap\u2019s higher time frame chart doesn\u2019t provide<\/a> clarity as to which direction it could go.<\/p>\n \u201cBTC doesn\u2019t have much clarity at all on higher time frames. Yes, it\u2019s back within the range and still above the 200-day EMA (exponential moving average) but [I really don\u2019t know] what\u2019s going on. Would still like to see $89,000 hold and in my opinion, all options are on the table with tomorrow\u2019s volatility.\u201d<\/em><\/p>\n Sherpa goes on to note<\/a> that traders should expect weeks or even possibly months of choppiness before Bitcoin makes another big move. However, he does say that BTC tends to capitulate<\/a> before finding a bottom, citing examples from previous cycles.<\/p>\n \u201cMany people are expecting $70,000-$75,000 for BTC and I wouldn\u2019t be surprised if those levels hit. Would be somewhat similar price action to 2021 where price consolidated for several months before having a gigantic move down. <\/em><\/p>\n Don\u2019t necessarily know if we\u2019ll chop and go past ATH (all-time high) like we did in 2021 but will play it level to level. Either way, we still probably have weeks\/months of chop to get through after this is done.\u201d<\/em><\/p>\n Bitcoin is trading for $89,957 at time of writing, a 2.5% increase on the day.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/em><\/span><\/p>\n<\/p><\/div>\n
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<\/center><\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n
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