Analysts hold their $250K Bitcoin price target even as BTC falls

25 de out. de 2021

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $59,930 on Bitstamp, down another 6% on the day.A rebound took the pair back above the $60,000 mark, but caution remained the name of the game as the week saw the price slide below $61,000."Was watching that 64K zone as a crucial level to break and the market has failed, so a corrective move is taking place," Cointelegraph contributor Michaël van de Poppe summarized the situation."Overall; looking at $56–59K as a good spot to buy Bitcoin."The previous all-time high at $64,900 turned out to provide little by way of new support, instead becoming more of a repeat resistance zone as bulls had little luck securing their newly-won gains.Optimism, as is customary, came only from those adopting a longer-term perspective. Among them was popular Twitter analyst TechDev, who stressed that 2021 was still conforming to historical bull market trends."Final BTC impulse has ALWAYS been five degrees steeper than the run-up to the mid-cycle peak," he noted alongside a comparative chart."Holding true so far. If it continues, and the 228K–250K window is hit (two most historically reliable fib-based targets)... It would happen end of Jan. Will be interesting to watch."