Four cryptocurrency analysts continue to remain bullish on Bitcoin BTC/USD even as the apex cryptocurrency fell below the psychologically important $60,000 mark on Tuesday.
What Happened: Kaleo, a pseudonymous technical analyst who has more than 440,000 followers on Twitter, retweeted his earlier post that said he believes Bitcoin whould peak late in the second quarter of 2022 in the $150,000 to $250,000 range.
Justin Bennett, a cryptocurrency analyst and trader with 89,000 Twitter followers, said he expects Bitcoin would break the $70,000 level in January and the “real fun” will begin at that time.
See Also: How To Buy Bitcoin (BTC)
Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe said he still believes Bitcoin would trade at $200,000 at some point in the cycle, though the apex cryptocurrency will reach that level through corrections and waves.
Another closely-followed pseudonymous cryptocurrency trader Pentoshi told his over 358,000 followers, said he expects Bitcoin to rebound to the $62,000 to $63,000 over the next three days.
Why It Matters: Bitcoin - the largest cryptocurrency by market capitalization - fell on Tuesday after U.S. President Joe Biden signed the infrastructure bill that contains cryptocurrency tax provisions.
In addition, China’s latest warning to state-owned companies to stay away from cryptocurrency mining also dragged down the prices of Bitcoin and other cryptocurrencies.
Bitcoin’s year-to-date gains stand at 102.5%. However, the apex cryptocurrency is currently down 13.8% from its all-time high of $68,789.63 touched on Nov. 10.
Price Action: Bitcoin is down 2.3% during the past 24 hours, trading at $59,171.00 at press time.
Read Next: Bitcoin At Over $75K Within A Year, Say 25% Of Fund Managers Surveyed By BofA
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