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February 14, 2026, 05:37:43 PM |
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Numerous analysts, crypto and finance journalists as well as YouTube pundits have predicted that for the bottom to be in, the price needs to hit the 200 moving average and that it will fall below 60K. Quite a few are convinced it will fall to 50K.
Some point out that in addition to merely touching that very long-term and gradually rising price, Bitcoin has sometimes fallen below this line and should therefore also spend some time in such an accumlation zone during this bear market.
This raises the question whether we will make contact with and revisit this line going forward.
Looking at the current price level, considering the capitulation in sentiment when we reached 60K, and in view of the bounce back up to approximately 70K, I would speculate that perhpas we might be surprised in a positive manner for once - following years of bitter disappointments when it came to upper price targets that BTC consistently failed to achieve ever since the end of the last bull run in late 2017.
To be sure, there are still considerable risks to the ongoing price consolidation. The rally continues to run into resistance just below 70K as I am writing these lines. Nevertheless barring disaster, I am willing to speculate that this time could be different, that we will not see a long protracted bear market like in 2022/2023, as a large and diverse set of investors seizes the opportunity to buy BTC while it hovers at what can be argued to be strongly discounted prices.
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