Amid the Bitcoin crash in May 2021, there is extensive uncertainty in the crypto market and Altcoins have seen a drastic decline. All soaring predictions of BTC to $100,000 seems inconceivable.
BTC surged 101% from $32,203 to $64,895 in just 4 months in April, 2021 and then crippled 110% to $30,201 in mere a month from April to May 2021.
Bitcoin demonstrated an aggressive market rally in 2021. It prevailed for more than 4 months, from January to May, until market sell-off took place.
Experts assert, such a cooldown period "corrections" is vital in price surges, otherwise, the pattern would only cause deeper dumps, which could prove destructive.
The market has become bearish and recovery doesn't seem candid and we may not witness big recoveries in the next few weeks. Institutions and traders will play a crucial role in reversing the trend to Bullish.
If BTC pumps again in the 4th Quarter of 2021, it could easily meet the $100,000 mark as predicted by many experts since the year start.
In 2020, Bitcoin was up by 300% with High of $29,300 and low of $3,900. 170% pump happened in last quarter of 2021.
Since powerful players are indulging in market, the price is set to rise. There are aspects that may pull the price down temporarily but the future of Bitcoin is looking more promising.