Bitcoin Users Split on Price Direction 50% Predict 10% Drop 50% Predict 9% Gain

Crypto users are divided on the future trajectory of Bitcoin, with some predicting a surge to an all-time high and others anticipating a drop below the key $100,000 mark. This uncertainty comes as the broader market is trading sideways, according to a recent poll on X.

In a poll conducted by crypto analyst Matthew Hyland, participants were asked whether Bitcoin would reach $94,000 or $114,000 next. The results were nearly evenly split, with 50.2% predicting a drop to $94,000 and 49.8% expecting a rise to $114,000. The poll gathered over 1,300 votes, indicating a significant level of engagement and interest among crypto users.

Bitcoin is currently trading at $104,522. A drop to $94,000 would mark a 10% decline, while a rise to $114,000 would mean an approximate 9% gain and a new all-time high, surpassing the previous high of $111,940 set on May 22. Bitcoin hasn’t touched the $94,000 level since May 6, shortly before it broke back above $100,000 on May 8 for the first time in three months.

The sideways market has taken a toll on crypto sentiment. The Crypto Fear & Greed Index flipped from “Greed” back to “Neutral,” posting a 54 out of 100 score in its June 20 update. This shift indicates a more cautious outlook among crypto investors, who are closely monitoring the market for signs of a potential breakout or breakdown.

Geopolitical tensions have also played a role in Bitcoin’s recent price action. After briefly reclaiming $110,000 on June 11, Bitcoin dropped to $103,000 following Israel’s airstrikes on Iran. The tensions have only been mounting since, with US President Donald Trump calling for Iran’s “unconditional surrender” and threatening Iran’s supreme leader, Ayatollah Ali Khamenei.

Despite the uncertainty, some analysts remain optimistic about Bitcoin’s long-term prospects. Crypto trader Rekt Capital recently said, “It’s very likely one will occur after this Bull Market.” Some crypto analysts are placing bets that Bitcoin will be trading within the $130,000–$135,000 area in Q3. BitMEX co-founder Arthur Hayes has firm hopes for Bitcoin to reach $250,000 by the end of this year.

However, others are not so sure. Michael Saylor, the CEO of MicroStrategy, said on June 10 that the bear market will not return for Bitcoin. This optimistic outlook is not shared by all, as some analysts believe that a bear market is still a possibility.

Overall, the crypto market remains in a state of flux, with investors closely monitoring the situation for signs of a potential breakout or breakdown. The recent poll on X highlights the divide among crypto users, with some predicting a surge to an all-time high and others anticipating a drop below the key $100,000 mark. As the market continues to trade sideways, investors will be looking for any signs of a potential breakout or breakdown, which could provide valuable insights into the future trajectory of Bitcoin.