Bitcoin just broke 69,000 and is stuck again? Six crypto leaders summarize their predictions for BTC

Contents of this article

Galaxy Digital founder: Bitcoin may fall back to $55,000, reaching a new high
PlanB: Seeing a 10-month crazy bull market, but with multiple over 30% corrections
Arthur Hayes: Bitcoin will fall by 20% to 30% in early March
The Market Ear analyst: Technical indicators show Bitcoin is severely overbought
Matrixport co-founder Daniel Yan: Bitcoin may fall by 15% in April
JPMorgan analyst: May fall to $42,000 after halving in April
After 846 days (November 10, 2021), Bitcoin finally hit a maximum of $69,080 last night, setting a new all-time high again, causing the community to sigh: " Bitcoin never owes anyone any more!"

Unexpectedly, Bitcoin plummeted as soon as it reached its all-time high, evaporating $10,000 to $59,000. Many investors who were ready to buy when Bitcoin broke new highs cried out:

It’s all All In, and it was trapped at 69,000 three years ago.

It’s been three years, and I’ve been stuck at 69,000 again, three years and three years…


BTC Spot｜Source: OKX
Will Bitcoin's rapid decline of nearly 15% be a healthy correction, clearing out excessive leverage and laying the bottom for the subsequent bull market? Or does it mean that BTC has reached its high point and will turn downward? More time is needed to verify.

On this occasion, the following dynamic zone also compiles the recent interpretations and future trend judgments of Bitcoin by many well-known encryption analysts for readers' reference.

Galaxy Digital founder: Bitcoin may fall back to $55,000, reaching a new high
Before Bitcoin hit a record high, Galaxy Digital founder and CEO Mike Novogratz said in an exclusive interview with Bloomberg last Thursday that he believed Bitcoin might see some correction:

I wouldn’t be surprised if there is some correction, and if there is a pullback, BTC could pull back to around $55,000 before making new highs.

Michael believes that large institutional players are underleveraged in the current cycle compared to the recent 2021 bull market, but retail traders are overleveraged, although he also said that Bitcoin prices will rise significantly next year from now.

PlanB: Seeing a 10-month crazy bull market, but with multiple over 30% corrections
PlanB, an anonymous analyst who is famous for proposing the S2F model, released a cyclical chart of Bitcoinon Bull market:

The accumulation phase is over and there are no longer easy buying opportunities in an orderly, slow-growing market. The bull market has begun.

However, he also said that this period will be accompanied by multiple declines of more than 30%. If his prediction is correct, investors should be careful not to operate with too high leverage:

If history is any guide, we will see about 10 months of crazy FOMO, extreme price surges, accompanied by multiple declines of over 30%.


Arthur Hayes: Bitcoin will fall by 20% to 30% in early March
Arthur Hayes, the legendary trader and founder of BitMEX who has unique insights into cryptocurrencies, actually predicted that Bitcoin would fall by 2~30% in March in an article titled " Signposts" in early January this year. .

Hayes predicts that in early March, RRP will be exhausted and BTFP will be canceled on March 12, but is expected to be restored on the 20th, and the Federal Reserve may cut interest rates.

This could cause Bitcoin to experience a 20% to 30% price correction in early March, and the correction could be even greater if a U.S.-listed Bitcoin spot ETF had begun trading. To hedge against market downside risks, Hayes said he plans to buy Bitcoin put options and will closely monitor market trends between March 12 and 20 to decide when to close his position.


The Market Ear analyst: Technical indicators show Bitcoin is severely overbought
According to a previous research report released by The Market Ear on February 29, analysts pointed out that Bitcoin’s RSI (relative strength index) has reached 88 in the past two weeks, and in the past history, Bitcoin has dropped from This has not occurred in the $60,000 price range, which may mean that Bitcoin is seriously overbought.

In addition, the current trading price of Bitcoin has exceeded the 200 MA by about 70%. Looking back at history, of the three similar situations that occurred in 2021, two of them ushered in a sharp decline in the market. Therefore, last night's decline seems to confirm the judgment of this technical indicator.


Matrixport co-founder Daniel Yan: Bitcoin may fall by 15% in April
Regarding the trend of BTC after it exceeded 60,000, Matrixport co-founder Daniel Yan also posted on X on the 28th that the current market sentiment has reached a level that he believes should be cautious, and he believes that at the end of April, that is, Shortly after the Bitcoin halving occurs, BTC will see a healthy 15% retracement.

At the same time, Yan also pointed out that the callback will begin as early as March, because March is a relatively fragile month for the crypto market:

From an overall economic perspective, March is a tricky month because it is accompanied by the U.S. Federal Reserve’s (Fed) FOMC meeting and the Fed’s launch of the Bank Term Financing Program (BTFP); with the Ethereum Cancun upgrade and Bitcoin With the halving coming, the market in March should be fragile.

Where exactly does it start, 65,000 or 60,000? Or now? I don't know, but if you are a long-term holder, don't worry, and for investors looking to make short-term trades, keep an eye on March.

JPMorgan analyst: May fall to $42,000 after halving in April
JPMorgan analysts led by Nikolaos Panigirtzoglou predicted in a report released last Wednesday that the Bitcoin production halving event scheduled to occur in April will reduce Bitcoin miner rewards from the current 6.25 BTC per block to 3.125 BTC.

They warn that this halving will have a negative impact on miners' profitability and may increase the cost of Bitcoin production, thereby affecting its market price. Analysts predict that the price of Bitcoin could fall to $42,000 after the halving.

Bitcoin’s production costs have proven to be an important bottom line for its price in practice.

Our current median estimate of production costs is $26,500, and we expect this to rise to $53,000 after the halving event.