cryptojournalist
Bitcoin’s social sentiment is at its lowest in 2024, hinting at a potential breakout above $100,000.
Price Dip and Market Sentiment
Bitcoin has fallen over 10% from its $108,300 peak on Dec. 17, now trading at $97,150. Social media buzz around Bitcoin has turned negative, with more pessimistic comments than positive ones. Santiment suggests this could mean a rebound is near, as markets often defy public sentiment.
Chart Patterns Indicate Rebound
Fractal patterns, used in trading to identify trends, show Bitcoin might soon recover above $100,000. While some analysts like Elja Boom see signs of a bounce, others, including Rekt Capital, believe the correction could extend for another week based on past market cycles.
Looking Ahead to 2025
Matrixport predicts Bitcoin could climb past $160,000 by the end of 2025, citing improving economic conditions and easing monetary policies as key factors.
