Bitcoin Still Bullish; How High Will It Go?
Bitcoin is still climbing quickly and could be able to hit $100,000 as soon as this week. We talk about how likely that is.
Quick overview
- Bitcoin (BTC) has surged nearly 8% over the past week, currently priced at $84,774.
- The cryptocurrency market is experiencing a bullish trend, with Ethereum and XRP also seeing significant gains.
- Factors such as paused tariffs and upcoming earnings reports could propel Bitcoin above $100K, but potential economic downturns may hinder its growth.
- Investors should be cautious as Bitcoin's recent momentum may stall, making it challenging to maintain levels above $100K.
Live BTC/USD Chart
Over the last week, Bitcoin (BTC) has gained nearly 8%, and it looks like it is going even higher. The coin is up 0.72$ for the last day to a price of $84,774 (BTC/USD).
With Bitcoin surging above $94K, it seems like it is only a matter of time before it is above $100K again. With momentum still high from paused tariffs and incoming earnings reports hype, Bitcoin could surpass that important level. However, it could also stall out very soon and plummet back below $90K, and we want to share with you how that could happen.
Bitcoin on the Rise
The BTC price is enjoying a surge that has caught up the rest of the cryptocurrency market in its movement. Ethereum (ETH) gained nearly 10% in a week, and XRP (XRP) added 8.72% in that timeframe. Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) are all bullish too, making for a very exciting cryptocurrency market that could continue higher on its own steam.
BTC/USDPresident Donald Trump put a pause on tariffs that is supposed to extend for almost three more months, and that gives the cryptocurrency market time to breathe and spread its wings separately from tariff influence. We could see incredible upward movement throughout the market during this 90-day period.
Many of the Magnificent Seven stocks are reporting their quarterly earnings this week, and if those earnings reports are positive, then Bitcoin could benefit from the boost they give to the wider markets.
Because Bitcoin is so close to $100K, we could see the whales help propel it over that mark and work to keep it there. We have already seen some major buying power from MicroStrategy give Bitcoin some help, and other whales have been active as well lately, helping to push Bitcoin to where it is now.
Bitcoin Could Plummet
There are a few factors that could hurt Bitcoin, however, and investors need to be aware of those. The stock reports coming in this week, as well as the economic data that is scheduled, could be very negative. We could see that the economy is stagnating or tightening, and that would be very bad for Bitcoin investors.
There is also the possibility that Trump will change his mind about tariffs and resume them or add new ones that are not affected by the pause. This will limit how much money investors have to spend on volatile investments like Bitcoin.
We also have to take into account that Bitcoin and the wider crypto market have been riding high for days. That trend may be coming to an end, though, naturally running out of steam and stopping short of $100K.
With all of these factors to consider, we think it is likely that Bitcoin will hit $100K in the near future but will struggle to stay above that level for very long.
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